Author: David A. Harding 2021-03-06 03:43:43
Published on: 2021-03-06T03:43:43+00:00
Bitcoin developers have proposed a new activation method for Taproot soft fork on the Bitcoin network called Speedy Trial. The proposed method aims to allow a taproot activation attempt to either quickly succeed or quickly fail, without compromising safety in either case. If this threshold isn't reached within approximately three months, the activation attempt fails, and everyone is encouraged to try again using different activation parameters. The earlier version of this proposal was documented over 200 days ago, and taproot's underlying code was merged into Bitcoin Core over 140 days ago. Using Speedy Trial could generate fast progress that will either end debate or provide data upon which to base future taproot activation proposals. Discussion can continue while waiting for the results of Speedy Trial.The idea can be implemented on top of either Bitcoin Core's existing BIP9 code or its proposed BIP8 patchset. There are concerns about false signaling and unprepared miners losing money with this approach. To mitigate these problems, new rules added in a soft fork need to be enforced by a large part of the economy.Developers have taken steps in the past to ensure widespread adoption of new consensus rules by programming in a delay between when software is expected to be released and when the software starts tracking which blocks signal for activation. Speedy Trial replaces most of that upfront delay with a backend delay. BIP8 parameters are proposed, which would ensure miners had a certain number of retarget periods to lock in taproot, and that there'd be a certain number of blocks until activation. Russell O'Connor has offered to work on a patch against BIP8 if it appears Speedy Trial may have traction. Overall, the proposed Speedy Trial activation method could either quickly succeed or quickly fail, without compromising safety in either case, and generate fast progress towards taproot activation on the Bitcoin network.
Updated on: 2023-05-21T01:50:32.768712+00:00