Author: Nick ODell 2017-03-13 04:59:10
Published on: 2017-03-13T04:59:10+00:00
In a recent post on the Bitcoin-dev mailing list, user shaolinfry proposed a BIP16-like soft fork to activate the existing segwit deployment before the end of midnight November 15th, 2017. The proposal aims to cause the mandatory activation of segwit and avoid releasing a new deployment. The delayed activation of segwit is holding back protocol innovations such as MAST, Covenants, Schnorr signature schemes and signature aggregation. Additionally, a substantial portion of the ecosystem industry has put in time and resources into segwit adoption, including the development of systems that rely on segwit, such as several lightning network systems. The Double UASF counter-fork proposal by Nick enforces every rule that UASF enforces, plus one additional rule. If 60% of blocks in any retargeting period signal for Double UASF, any descendant block that creates or spends a segregated witness output is invalid. The signaling periods of Double UASF never coincide with that of UASF because they don't overlap. Miners who adopt Double UASF don't need to understand segwit because all segwit transactions are banned. Miners who do adopt segwit will lose money as their blocks will be orphaned. The problem with modifying Bitcoin to work around community norms is that other people can also do it.
Updated on: 2023-06-11T22:10:32.924521+00:00