Author: Jorge Timón 2017-06-11 17:11:53
Published on: 2017-06-11T17:11:53+00:00
Jacob Eliosoff, a bitcoin developer, has provided an update on the prospects of BIP91 avoiding a chain split. While he acknowledges that timing isn't as dire as suggested, he warns that unless concrete progress is made with miner support, the split is coming. There are some refinements which have been noted to get BIP91 deployed faster, such as reducing the 80% threshold to 65%. Another option is for BIP91 nodes to start signaling bit 1 the moment bit 4 reaches lock-in, instead of waiting another period until it activates. However, there is still a lot of convincing needed before miner support for any of these solutions reaches anything like 50%.Eliosoff acknowledges that bip8 should be used instead of bip9 from now on to prevent miners from blocking changes again like they did with csv and segwit. The impending split won't be between nodes that support segwit and those that don't, but between those that reject non-segwit-supporting blocks and those that don't.Eliosoff provides some dates and concludes that it's extremely unlikely BIP91-type logic can activate segwit in time to avoid a BIP148 chain split. To avoid the split, either 95% of hashrate need to start signaling bit 1 by June 30 or BIP91 is deployed and 50% of hashrate is activated BIP91 miners by June 30. As currently designed, >=80% of hashrate must start signaling BIP91's bit 4 by a few days ago, making the split inevitable. Eliosoff expects that few parts of the ecosystem will join the fork, so disruption will be bearable.
Updated on: 2023-06-12T02:07:41.890859+00:00