Author: yanmaani at cock.li 2021-03-01 16:54:07
Published on: 2021-03-01T16:54:07+00:00
The activation of Taproot, a proposed Bitcoin upgrade, is causing controversy over the level of support required from miners for activation. With LOT=false, activation would require at least 95% of miners to vote yes, while with LOT=true, activation would only require 0%. However, some users are suggesting a compromise with LOT=maybe, where activation would require some percentage of miners to vote yes. Others suggest a middle-of-the-road solution where Taproot would be enabled if miner support ever goes above 95%, or on flag day if miner support is >20% then. In response to concerns about miners vetoing activation, it was pointed out that miners failed to veto a BIP 9 activation in 2017. The use of LOT=false is a defining feature of a soft-fork, and old node software will be indifferent to whether activation is signaled or not. Users following bip8 with lockinontimeout=false will enforce taproot rules if activation occurs but will not reject blocks if activation does not occur. Some users are concerned that those running LOT=False will face an unreliable chain if miners decide to produce a chain split, being replaced by the LOT=True chain every time it overtakes the LOT=False chain in work. However, this assumes that anyone mining the chain where taproot does not activate is not able to avoid a reorg, despite having majority hashpower. In reality, avoiding a reorg can be achieved via running "invalidateblock," examining block headers, or implementing a patch. Finally, concerns were raised about the risk of introducing LOT=False, with some arguing that LOT=True should be the only deployed parameter to minimize risk probability and severity. However, LOT=false is already the default behavior of every single piece of node software out there. Therefore, its deployment is not being introduced, and it has universal usage.
Updated on: 2023-06-14T18:49:10.974229+00:00