Author: Peter Todd 2015-09-27 18:50:31
Published on: 2015-09-27T18:50:31+00:00
Bitcoin's CLTV opcode and IsSuperMajority() soft-fork should be deployed on v0.10.3 and v0.11.1 respectively, according to Peter Todd. Todd states that payment channels would benefit greatly from CLTV, making implementations significantly simpler and more secure by removing the malleability vulnerability. The implementation of the opcode is simple, has been peer-reviewed and thoroughly tested; the deployment code has also been tested and copied nearly line-by-line from the successful BIP66. Todd believes that the risk of CLTV failing to get miner adoption, thereby blocking other soft-forks, is very low. Todd argues that waiting for nVersion bits and CHECKSEQUENCEVERIFY will significantly delay deployment of CLTV, whereas if CLTV is ready now, there is very little carrying cost to having it. Finally, if the CLTV is broken or obsolete in future, there is very little impact on transactions as it has zero effect on transactions that do not use OP_CLTV in their scripts.
Updated on: 2023-06-10T23:08:41.833386+00:00