Author: James Hilliard 2017-05-22 22:40:13
Published on: 2017-05-22T22:40:13+00:00
This proposal suggests a method to activate the existing BIP9 segwit deployment with a majority hashpower less than 95%. The goal is to minimize chain split risk and network disruption while maximizing backwards compatibility, and still provide for rapid activation of segwit at the 80% threshold using bit 4. This would allow for quick scaling without risking a rushed combined segwit+HF that could cause widespread issues. Segwit increases blocksize, fixes transaction malleability, makes scripting easier to upgrade, and brings many other benefits. A complete redeployment of segwit is difficult until the existing deployment expires due to many segwit-related features already being active. While this BIP is active, all blocks must set the nVersion header top 3 bits to 001 together with bit field (1). This deployment is compatible with the existing "segwit" bit 1 deployment scheduled between midnight November 15th, 2016 and midnight November 15th, 2017. Miners will need to upgrade their nodes to support segsignal otherwise they may build on top of an invalid block. By orphaning non-signalling blocks during the BIP9 bit 1 "segwit" deployment, this BIP can cause the existing "segwit" deployment to activate without needing to release a new deployment.
Updated on: 2023-05-20T02:27:15.875822+00:00