Published on: 2015-06-13T13:01:12+00:00
In their email conversation, Tier Nolan and Pieter discuss the importance of updating miners in mining on invalid blocks. Nolan explains that once the 75% threshold is reached, miners who have not updated their systems are at risk of mining on invalid blocks. This occurs when someone produces a version 3 block that violates new rules, and miners who haven't upgraded waste their mining power building on that block. While the risk of this happening is low, creating an invalid version 3 block costs 25BTC in hashing power.The BIP66 soft-fork has recently surpassed the 75% support threshold, indicating that 75% of the hashing power has upgraded to support it while 25% has not. When the hashing power reaches 95%, blocks created by the remaining 5% who have not upgraded will be rejected. It is crucial for those operating a pool, solo-mining, or mining on p2pool to upgrade their Bitcoin Core nodes to support the BIP66 soft-fork; otherwise, their blocks will be rejected. However, individuals who only sell their hashing power to a centralized pool do not need to take any action.To measure BIP66 support, upgraded miners set the version field in their blocks to 3, while non-upgraded miners set it to 2. Bitcoin Core determines BIP66 support by counting the number of blocks with a version greater than or equal to 3 within the last 1000 blocks. If 750 out of the last 1000 blocks support BIP66, blocks with a version greater than or equal to 3 that do not follow the BIP66 rules are rejected. On the other hand, if 950 out of the last 1000 blocks support BIP66, blocks with a version greater than or equal to 3 are accepted.
Updated on: 2023-08-01T13:11:22.840224+00:00