Author: Mike Hearn 2014-10-07 16:08:13
Published on: 2014-10-07T16:08:13+00:00
The context discusses the potential implementation of a new rule called CHECKLOCKTIMEVERIFY in the next major release of Bitcoin. While it is seen as a useful improvement, there are concerns about its impact on existing users and miners. It is suggested that an intermediate release be made to serve errors if the fork warning is active, ensuring miners have a way to handle IBD/getting forked off the chain. There is also discussion around the hard- versus soft-fork debate, with the example of P2SH being a soft fork that did not cause any major issues but resulted in miners losing money and wasting electricity mining blocks on the wrong side of the chain. The idea of a clean fork with alerts during the lock-in period before new rule enforcement starts is seen as safer, although it may still result in miners losing money for ignoring it. Finally, there is an open question about how to trigger a hard fork, with suggestions ranging from a special invalid tx in the block to changing the coinbase outpoint structure.
Updated on: 2023-06-09T02:49:39.705163+00:00