Author: Tier Nolan 2015-05-29 14:22:27
Published on: 2015-05-29T14:22:27+00:00
In a conversation from May 29th, 2015 between Tier Nolan and Gavin Andresen, they discuss the possibility of increasing the block size via soft fork. If there is still no consensus among developers but the "bigger blocks now" movement is successful, Gavin Andresen plans to ask for help getting big miners to do the same and use the soft-fork block version voting mechanism to get a majority and then a super-majority willing to produce bigger blocks. One method that could be used is the "nuclear option," which would involve increasing the block size via a soft fork. Version 4 blocks would contain the hash of a valid extended block in the coinbase, and transactions sent to the auxiliary block would be locked until transferred money from the extended block was included. To unlock the transaction output, one would need to include the txid of transaction(s) in the extended block and signature(s) in the scriptSig. The transaction output can be spent in the extended block using P2SH against the scriptPubKey hash.This method would allow people to choose whether or not to move their money to the extended chain. It has the advantage of giving people a choice, as they can move their money to the extended chain or not as they wish. However, it is more complex than simply increasing the block size and may have lower security than leaving funds in the root chain.
Updated on: 2023-06-09T20:06:47.677760+00:00