Author: Michael Folkson 2021-03-01 17:47:57
Published on: 2021-03-01T17:47:57+00:00
It has been eight months since Steve Lee initiated the Taproot activation discussion through the creation of IRC channel ##taproot-activation. Though there were discussions prior to this, it was the first step towards finding a solution. However, even after eight months, some people are still searching for a philosopher's stone that will garner 100 percent consensus with zero chain split risk. Michael Folkson suggests stepping away from circular debates and building on the progress made so far. Overwhelming consensus has been achieved on the activation mechanism (BIP 8) and all parameters except for one (lockinontimeout or LOT). The absence of a Core release with activation code might require energy being spent on a user-activated soft fork (UASF) release, implementing LOT=true, in a similar spirit to 2017's UASF effort. Approximately 90 percent of mining pools have declared support, and there is overwhelming community consensus to activate Taproot. A kick-off meeting for this UASF (LOT=true) effort is scheduled, and users are encouraged to attend and support the effort to get Taproot activated. The future of Bitcoin's scalability and privacy depends on the users.
Updated on: 2023-05-21T01:33:32.313867+00:00