Author: Jacob Eliosoff 2017-06-21 04:05:53
Published on: 2017-06-21T04:05:53+00:00
A group of miners released a statement on Saturday, referred to as the "Chinese roundtable," stating their intention to support the New York consensus SegWit2x program btc1. The code includes the accelerated 336-block BIP 91 change, and until other facts or interpretations come to light, it is assumed that the "NYA" means this. On June 20, Mark Friedenbach wrote that 80% of miners had set "NYA" in their coinbase string, but he did not know what it meant. Some people are equating it to BIP 91, however, the text of the NYA grants no authority for upgrading this proposal while remaining compliant with the agreement. The "Segwit2MB" proposal by Sergio Demian Lerner was made to this mailing list on March 31 and was explicitly referenced by the NYA text. In the days after the NYA, there was disagreement among those who signed it as to what it meant. Jacob Eliosoff stated that if segwit is activated before August 1, as now seems likely, there will be no split that day. But if activation is via Segwit2x (also likely), and at least some nodes do and some don't follow through with the hard fork three months later (again, likely), then a split is likely to occur in September or October. The issue is that we are indirectly requiring miners that strongly support segwit to install consensus protocol changes outside of bitcoin's standard reference and 80% of them have signaled they will do so. Gregory Maxwell stated that miners can continue signaling segwit, which will leave them at least soft-fork compatible with BIP148 and BIP91, and god knows what "segwit2x" is since they keep changing the actual definition and do not have a specification; but lastly saw the near-term behavior the same as BIP91, but with a radically reduced activation window, so the story would be the same there in the near term. It is worth noting that segwit2x is pretty much unanimously rejected by the technical community, and just like with XT/Classic/Unlimited before it, there will continue to be a strong correlation with people who are unwilling and unable to keep updating the software at an acceptable level of quality.
Updated on: 2023-06-12T02:48:58.424269+00:00