Author: Rusty Russell 2017-05-15 01:14:13
Published on: 2017-05-15T01:14:13+00:00
The discussion on versionbits and its behavior after deployment timeout was the subject of communication between Russell O'Connor and Luke Dashjr. It was suggested that a user can add a timeout by bundling a pair of similar transactions, one with the transaction version bits set and another with a locktime set. Later, a proposal by Dashjr suggested adding a subset of nVersion to simplify the process while using fewer precious nVersion bits. The proposal allows specifying a single bit and only supports BIP8/9-style signalling.The proposal's downside is the encouragement of miners to false signal readiness, which undermines both BIP 9 and BIP 8. However, it is considered gentler on miners than a UASF flag day and offers harder-to-game signalling from bitcoin users. False signalling miners have the two-week LOCKIN period to upgrade; otherwise, they could already lose money. Some argue that they are more likely to upgrade when significant parts of the economy have already done so.
Updated on: 2023-06-12T00:47:00.224595+00:00