Author: Ariel Luaces 2021-03-06 20:44:48
Published on: 2021-03-06T20:44:48+00:00
The Bitcoin developer, Pieter Wuille, has proposed a three-month window for activating Taproot through the Bitcoin Improvement Proposal (BIP) 8. The proposal aims to enhance privacy and scalability on the Bitcoin network. However, there is no consensus on how to activate the upgrade, with several proposals being put forward, including BIP8, BIP9, and BIP341.On the Bitcoin-dev mailing list, Matt Corallo expressed concern that a three month window for activating Taproot may motivate a small group to attempt a user activated soft fork (UASF) if they reach near 51% mining support. This could cause a chain split and lead to losses for those who do not understand the situation. Ariel Lorenzo-Luaces proposed an alternative where the deployment window is spread out to one year, the activation threshold is set to 95%, and the feature can activate if there is above 51% signaling at the end of the window. David A. Harding discussed the "Speedy Trial" activation proposal, which allows nodes to begin counting blocks towards the 90% threshold required to lock in Taproot shortly after the release of software containing the proposed activation logic. If the lock-in threshold is not reached within approximately three months, the activation attempt fails. If it is reached, Taproot is guaranteed to eventually activate, but not until approximately six months after signal tracking starts. The proposal was found acceptable by several people who couldn't previously agree on a proposal. False signaling is a concern with the proposal, but this is possible with any other proposals.Wuille's proposal comes as the Bitcoin community continues to debate the best way to activate Taproot. In February, a threshold of 1,815/2,016 blocks (90%) in a single retarget period appeared to have near-universal support during an IRC meeting. Wuille's proposal aims to address concerns about the activation process by providing a clear timeline for the implementation of the upgrade. It also draws on previous experiences with soft forks, such as the 2015 BIP66 debacle, to ensure that the activation process is robust and secure.The proposal has been met with mixed reactions from the Bitcoin community, with some expressing concern that it could lead to a chain split if not implemented correctly. Others have welcomed the proposal as a step forward in the ongoing debate over Taproot activation.
Updated on: 2023-06-14T19:17:45.532925+00:00