Author: shaolinfry 2017-05-22 06:12:08
Published on: 2017-05-22T06:12:08+00:00
A copy of the Barry Silbert agreement, which was made between a select number of participants and can be found here: https://pastebin.com/VuCYteJh, has been received by the writer. The agreement stipulates that participants agree to immediately activate Segwit, however, under a different activation proposal. The proposal does not activate BIP141, but is instead a completely new deployment which would be incompatible with the BIP141 deployment. The proposal requires a lower 80% threshold as they were unable to convince 95% of the hashpower to go trigger activation.There are several options for activating Segwit now, including for 95% of hashrate to signal, the community deploying BIP148 UASF, redeployment of Segwit on a new bit, or making BIP148 miner triggered (MASF) with a lower threshold, above 50%. The writer suggests the fourth option, which effectively lowers the threshold from 95% to 65%, giving an improved chance to get Segwit activated quickly. However, this still leaves the activation in the hands of miners, which could be a disadvantage.The Barry Silbert agreement is criticized by the writer as being ill-considered and lacking peer review from the technical community. Suggestions of a hard fork in 4 months are considered unrealistic and without technical merits. Closed-door agreements between selected participants are also not the way to garner consensus to change a $30bn decentralized system. The writer wants to assist in the immediate activation of Segwit, which only requires hashrate to participate, and is open to all reasonable options in the interest of moving things forward in a safe and collaborative way.
Updated on: 2023-05-20T02:25:17.310116+00:00