This approach is introduced as an alternative to the existing BIP 8 and BIP 9 methods, which have sparked controversy due to their respective activation mechanisms. The primary motivation behind this new proposal is to address these controversies by offering a straightforward and transparent process for soft fork activation that relies on community consensus and miner readiness signals.

Under the proposed system, participants in the Bitcoin network can indicate support for soft fork proposals by broadcasting transactions with a specific nLockTime value, which corresponds to the number assigned to the soft fork proposal or its BIP number. This method allows for a decentralized way of gauging support for various soft fork proposals directly from users. Miners then play a crucial role by including these transactions in blocks, thereby signaling their readiness to support the activation of the proposed soft fork. The document outlines a process where, after a three-month period of collecting and analyzing these signaling transactions, the community and miners can move towards a "flag day" activation, setting a specific date on which the soft fork will be activated.

To facilitate this process, reference implementations for the activation mechanism and guidelines for excluding certain transactions in relay or mining are provided. These implementations are intended to guide developers and miners through the process of supporting or opposing soft fork activations using this newly proposed method. By allowing transactions with a specific nLockTime to signal support for soft forks, and providing a clear pathway for replacing transactions that do not get included in blocks, the proposal aims to streamline the soft fork activation process, making it more predictable and less contentious.

This approach represents a significant shift towards utilizing transaction-based signals for network upgrades, emphasizing the importance of community consensus and participation in the evolution of the Bitcoin protocol.