Author: Ariel Lorenzo-Luaces 2021-03-02 18:22:35
Published on: 2021-03-02T18:22:35+00:00
It has been eight months since the Taproot activation discussion began, and while progress has been made towards overwhelming consensus on the activation mechanism (BIP 8) and all parameters except lockinontimeout (LOT), there is still no philosopher's stone that will garner 100% consensus without any chain split risk. It is unclear whether Bitcoin Core will be able to release any activation code due to disagreement logjams. As a result, some are advocating for a community release implementing LOT=true in a similar spirit to the 2017 UASF effort, as approximately 90% of mining pools have declared support, and there is overwhelming community consensus to activate Taproot. However, others argue that a social movement would require tremendous work to convince users, miners, and service providers to run a UASF client.There is also the option of LOT=false, which does not require a social movement but only convincing 95% of miners. Apathetic users will never notice any service disruption regardless of the success or failure of the activation. The choice has always been about the order, with some thinking LOT=true should be attempted first and others thinking LOT=false should be attempted first. The author urges people to try LOT=false first, as a minor chain split one year later and a year of wasted time could result from a failed UASF movement. Social movements are hard to create, especially when the people you're trying to convince don't feel threatened. It would be a shame to meet back here a year later after verbal conflicts, misdirection, lies, vilification, reorgs, double spends, PoW changes, and threats galore.
Updated on: 2023-06-14T18:53:24.281283+00:00