Difference between revisions of "Taproot activation proposal 202102"
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For explanations of the various parameters, see BIP 8. | For explanations of the various parameters, see BIP 8. | ||
− | name=taproot | + | * name=taproot |
− | * Rationale: Already used in Bitcoin Core (for Signet and tests), no reason to change (BIP8’s “bipN” recommendation not applicable due to 2 Taproot BIPs) | + | ** Rationale: Already used in Bitcoin Core (for Signet and tests), no reason to change (BIP8’s “bipN” recommendation not applicable due to 2 Taproot BIPs) |
− | bit=2 | + | * bit=2 |
− | * Rationale: Already used in Bitcoin Core (for tests), no reason to change | + | ** Rationale: Already used in Bitcoin Core (for tests), no reason to change |
− | * Note: Bit 2 is unaffected by ongoing miner ASICBoost false-bit-spam. | + | ** Note: Bit 2 is unaffected by ongoing miner ASICBoost false-bit-spam. |
− | startheight=693504 (~2021 July 23rd) | + | * startheight=693504 (~2021 July 23rd) |
− | * Rationale 1: | + | ** Rationale 1: |
− | ** Earliest activation (MASF) takes 4 weeks, coinciding with Bitcoin Core 0.20 Maintenance End. Therefore, a backport of Taproot to 0.20 (complex and would need validation) can be avoided. | + | *** Earliest activation (MASF) takes 4 weeks, coinciding with Bitcoin Core 0.20 Maintenance End. Therefore, a backport of Taproot to 0.20 (complex and would need validation) can be avoided. |
− | * Rationale 2: | + | ** Rationale 2: |
− | ** ~26 weeks (6.5 months) between meeting and earliest activation. | + | *** ~26 weeks (6.5 months) between meeting and earliest activation. |
− | ** 1.5 months to prepare and release activation + 5 months for the economic majority to upgrade. | + | *** 1.5 months to prepare and release activation + 5 months for the economic majority to upgrade. |
− | timeoutheight=745920 (~2022 July 22nd / 1 year after signalling begins) | + | * timeoutheight=745920 (~2022 July 22nd / 1 year after signalling begins) |
− | * Rationale: | + | ** Rationale: |
− | ** Plenty of time and community support. | + | *** Plenty of time and community support. |
− | ** Remaining economic minority can be expected to upgrade within a year. | + | *** Remaining economic minority can be expected to upgrade within a year. |
− | lockinontime= NO CONSENSUS WAS REACHED | + | * lockinontime= NO CONSENSUS WAS REACHED |
− | threshold=1815 (90%) | + | * threshold=1815 (90%) |
− | * Rationale 1: | + | ** Rationale 1: |
− | ** High enough to ensure the Taproot chain always has a lead ahead of any invalid chains. | + | *** High enough to ensure the Taproot chain always has a lead ahead of any invalid chains. |
− | * Rationale 2: | + | ** Rationale 2: |
− | ** Low enough to avoid a sudden malicious stall of activation by rented or unknown miners. | + | *** Low enough to avoid a sudden malicious stall of activation by rented or unknown miners. |
− | ** 90% of hashrate has already committed to work toward Taproot activation. | + | *** 90% of hashrate has already committed to work toward Taproot activation. |
Revision as of 21:07, 16 February 2021
Expected timeline:
- 2021 March 17-31: Full node software released with Taproot activation deployment.
- 2021 July 23: Economic majority has upgraded. Miner signalling begins to indicate preparedness to protect the economic minority who haven’t upgraded yet.
- 2 weeks after 90% of hashrate signals: Taproot activates. Economic majority enforces, while miners protect the economic minority until they upgrade as well.
- 2022 August 1: Entire economy has upgraded.
For explanations of the various parameters, see BIP 8.
- name=taproot
- Rationale: Already used in Bitcoin Core (for Signet and tests), no reason to change (BIP8’s “bipN” recommendation not applicable due to 2 Taproot BIPs)
- bit=2
- Rationale: Already used in Bitcoin Core (for tests), no reason to change
- Note: Bit 2 is unaffected by ongoing miner ASICBoost false-bit-spam.
- startheight=693504 (~2021 July 23rd)
- Rationale 1:
- Earliest activation (MASF) takes 4 weeks, coinciding with Bitcoin Core 0.20 Maintenance End. Therefore, a backport of Taproot to 0.20 (complex and would need validation) can be avoided.
- Rationale 2:
- ~26 weeks (6.5 months) between meeting and earliest activation.
- 1.5 months to prepare and release activation + 5 months for the economic majority to upgrade.
- Rationale 1:
- timeoutheight=745920 (~2022 July 22nd / 1 year after signalling begins)
- Rationale:
- Plenty of time and community support.
- Remaining economic minority can be expected to upgrade within a year.
- Rationale:
- lockinontime= NO CONSENSUS WAS REACHED
- threshold=1815 (90%)
- Rationale 1:
- High enough to ensure the Taproot chain always has a lead ahead of any invalid chains.
- Rationale 2:
- Low enough to avoid a sudden malicious stall of activation by rented or unknown miners.
- 90% of hashrate has already committed to work toward Taproot activation.
- Rationale 1: