Bitcoin block size: UASF updates its proposal

bitcoin block size

Bitcoin block size: UASF updates its proposal

A controversial Bitcoin block size proposal has been upgraded.

UASF, in fact, is a new idea proposed by a pseudonymous contributor called Shaolingfry.

She/he wants to solve the bitcoin block size debate with a user activated soft fork (UASF), a possible method arount the actual deadlock over the Segregated Witness (Segwit) solution.

Right now, the need for a majority consensus in order to make a decision means  that any mining pool with enough hashing power has the veto power over any proposal; this might be the reason why SegWit is tardy to arrive.

Conversely, UASF wants to bypass the veto power and put the decision only into the hands of bitcoin’s users.

After a first general UASF proposal, Shaolinfry suggested a change – BIP148 – in order to moving the power out of the miners’ decision and give it to the “economic majority”.

Gregory Maxwell and other bitcoin developers refused this proposal because it could undermine the bitcoin blockchain stability.

“We should use the least disruptive mechanisms available and the BIP148 proposal does not meet that test,” he wrote

For this reason, Shaolinfry announced he/she is working on a redraft of the proposal to address some of the concerns suggested by Maxwell and other developers.

Shaolinfry published an announcement post saying that the reason for this changes is related to technical criticisms of how UASF would upgrade the network.

“BIP 148 is certainly not what a normal UASF would or should look like. While support for BIP 148 is surprisingly high, there are definitely important players who support UASF in general but do not like BIP148 approach.”

This revised proposal suggests the use of BIP8, but this concerns how soft forks are implemented.

Segwit and BIP8

Right now, if the 95% hashrate support for the Segregated Witness option is not reached by November 15th, the proposal will be discarded by default.

Anyway, the technical changes made in a proposal (BIP8) would be automatically locked in at the end of the time period, even if they could be adopted sooner.

Shaolinfry’s idea is that after the November 15th, a UASF SegWit proposal will be edited according to the BIP8 changes.

This means that the bitcoin community would have 1 year to prepare the upgrading of a UASF, removing the possible destabilizing effect of a short-term.

“I believe this approach would satisfy the more measured approach expected for bitcoin and does not have the issues Maxwell brought up about BIP148.”

 

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Amelia Tomasicchio
Amelia Tomasicchio

Amelia Tomasicchio is a content writer and marketer of Bitcoin-related news and fintech startups. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

One thought on “Bitcoin block size: UASF updates its proposal

AmadoPosted on  4:11 am - May 6, 2017

Good day! This post could not be written any better!
Reading this post reminds me of my good old room mate! He always kept chatting about this.

I will forward this write-up to him. Fairly certain he
will have a good read. Thanks for sharing!

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