Author: shaolinfry 2017-03-12 15:50:27
Published on: 2017-03-12T15:50:27+00:00
The delayed activation of SegWit is holding back a raft protocol of innovations such as MAST, Covenants, Schnorr signature schemes and signature aggregation and other script innovations of which much of the development work is already done. A better option would be to release code that causes the existing SegWit deployment to activate without requiring a completely new deployment nor subject to hash power veto. The proposal suggests that the economic majority agree to run code that rejects non-signalling SegWit blocks. Then from the perspective of all existing witness nodes, miners trigger the BIP9 activation. Such a rule could come into effect 4-6 weeks before the BIP9 timeout. If a large part of the economic majority publicly say that they will adopt this new client, miners will have to signal bip9 segwit activation in order for their blocks to be valid. Bitcoin already used flag day activation for P2SH, a soft fork which is remarkably similar to SegWit. However, the disadvantage of a UASF for SegWit is there is an existing deployment. A UASF would require another wide upgrade cycle. While absolute node count is meaningless, the upgrade trend from version to version seems significant. It is quite clear a substantial portion of the ecosystem industry has put in time and resources into SegWit adoption in the form of upgrading wallet code, updating libraries and various other integration work that requires significant time and money. Furthermore, others have built systems that rely on SegWit, having put significant engineering resources into developing systems that require SegWit - such as several lightning network system. This is much more significant social proof than running a node.A BIP proposal was drafted by Shaolin Fry so the community may discuss Flag day activation for SegWit deployment. This document specifies a BIP16 like soft fork flag day activation of the segregated witness BIP9 deployment known as "SegWit". It will be activated between midnight October 1st, 2017 and midnight November 15th, 2017 if the existing SegWit deployment is not activated before epoch time 1538352000. This BIP will cease to be active when the existing SegWit deployment activates. While this BIP is active, all blocks must set the nVersion header top 3 bits to 001 together with bit field (1 // mandatory SegWit activation between Oct 1st 2017 and Nov 15th 2017 inclusive if (pindex->GetMedianTimePast() >= 1538352000 && pindex->GetMedianTimePast() pprev, chainparams.GetConsensus())).
Updated on: 2023-06-11T22:09:24.811341+00:00