Posted by Chris_Stewart_5
Dec 23, 2024/15:09 UTC
Soft forks in the blockchain domain represent updates that tighten the existing network rules, inherently carrying a risk of confiscation. This risk, though often subtle, can affect various network participants, including miners. A notable example is the resistance from Bitmain towards segregated witness (SegWit) due to its impact on their use of covert asicboost technology. This technology enhanced their mining hardware's efficiency, and SegWit's implementation, by enabling blocks containing SegWit transactions, essentially restricted this advantage, leading to what some might consider a form of capability confiscation.
The development process of soft forks can be broadly categorized into two main phases: design and deployment. The design phase is crucial for assessing and understanding the confiscation risks associated with the proposed updates. It is during this phase that consensus among network participants regarding the changes should be reached. Achieving consensus at this stage means that any potential confiscation risk is acknowledged and accepted as part of the update, underlining the fact that certain practices deemed harmful to the network's operation are intentionally being disallowed. This perspective emphasizes the importance of thorough analysis and consensus-building in the design phase, setting a foundation for a smoother deployment phase. Utilizing this approach, especially when implementing security-related soft forks, leverages the inherent risk considerations to benefit the overall network security and integrity.
TLDR
We’ll email you summaries of the latest discussions from authoritative bitcoin sources, like bitcoin-dev, lightning-dev, and Delving Bitcoin.
We'd love to hear your feedback on this project?
Give Feedback