26 Feb '17, 1am

New proposal aims to turn SegWit activation into flag-day. Throwing down the gauntlet?

Some thoughts about the activation mechanism for soft forks. In the past we used IsSuperMajority and currently use BIP9 as soft fork activation methods, where a supermajority of hashrate triggers nodes to begin enforcing new rules. Hashrate based activation is convenient because it is the simplest and most straightforward process. While convenient there are a number limitations with this method. Firstly, it requires trusting the hash power will validate after activation. The BIP66 soft fork was a case where 95% of the hashrate was signaling readiness but in reality about half was not actually validating the upgraded rules and mined upon an invalid block by mistake[1]. Secondly, miner signalling has a natural veto which allows a small percentage of hashrate to veto node activation of the upgrade for everyone. To date, soft forks have taken advantage of the relatively centra...

Full article: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2...

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