You might have seen a brand new development on bitcoin twitter recently, folks altering their profile photos to some type of a Reuben sandwich. I’m going to clarify what this implies, why it is best to care and why it is best to think about additionally changing into a Reuben sandwich. First I have to handle one thing vital, the Rubin’s Reubens photographs usually are not NFTs, they don’t seem to be inscriptions, they’re merely AI generated artwork that anybody can select to make use of at no cost.
The identify comes from Jeremy Rubin (@JeremyRubin), the creator of OP_CTV and BIP119, and the likeness between Rubin and Reuben. Which you might have already discovered. So by having a Reuben sandwich as your profile image or by displaying the 🥪 emoji you’re signaling your assist for the CTV or extra just lately LNHANCE improve proposals. LNHANCE, which was written by Brandon Black (@reardencode) is a mix of OP_CTV, OP_CSFS and OP_INTERNALKEY. This mixture supplies a bit extra flexibility and programmability than simply OP_CTV alone, and allows additional issues akin to LN symmetry/eltoo.
In a earlier article I defined that bitcoin has a scaling problem and that covenants, together with CTV, generally is a resolution to assist with this. Nevertheless I did not focus on the method concerned with how we truly activate these new OP codes. By design, it’s not a fast or simple course of to smooth fork bitcoin so as to change the consensus guidelines. However what even is consensus? It is a powerful query with lots of nuance, and the reply will depend upon who you ask. Previously there was an idea of tough consensus, the place as soon as the change is properly mentioned and there aren’t any extra affordable considerations left to dispel relating to a proposal, you’ve reached tough consensus. Some folks imagine consensus is discovered when companies, akin to pockets suppliers, exchanges and miners agree on a change. And even simply the miners alone, as in the event you smooth forked with out a majority of miner hash assist, you’d be rejecting the blocks from the heavier chain, then it will likely be as much as the market to resolve which is the actual bitcoin. This may be very messy and sophisticated, therefore it is a lot less complicated if you may get the miners on board with the improve. The truth is that the financial majority of bitcoin customers get to find out consensus, of which common customers, builders, miners, exchanges, wallets and different bitcoin holders all play an element. Measuring that is extremely troublesome, if not inconceivable. Nevertheless you could attempt to choose the extent of consensus for a proposal earlier than making an attempt to activate it.
In April 2022 Jeremy Rubin proposed a speedy trial activation of CTV, this didn’t go properly, and led to the fork being very contentious. Speedy trial is the place the ultimate resolution whether or not to activate a smooth fork proposal or not, is given to the miners. Simply 5 months earlier taproot was activated utilizing the identical speedy trial technique. Nevertheless many individuals felt it didn’t go properly, and so they weren’t comfy giving the miners the flexibility to say no to a change which will have majority consensus amongst the customers. A pair weeks after Jeremy introduced the speedy trial consumer he determined to name off the activation try. There was no consensus on CTV as a change in 2022. It’s price noting that Jeremy additionally launched a software for customers to withstand a CTV activation try (Person Resisted Softfork) with the activation consumer. So now 2 years later the group is taking a look at one other activation try, however this time there will not be any speedy trial technique.
So what are the choice methods to activate a smooth fork? There are 2 BIPs (Bitcoin Enchancment Proposals) which can be used for activation, BIP8 and BIP9, I like to recommend studying these. Taproot used BIP9 for the speedy trial, which depends on timestamps to know the signaling intervals. If the signaling interval ends with out attaining the activation threshold, then the try fails and there’s no smooth fork. BIP8 makes use of block peak to evaluate time intervals and could be configured to both fail after a sign interval with out sufficient miner signaling, similar to BIP9. Or it may be configured to activate after the signaling interval, even with out reaching the edge. This parameter is known as “lockinontimeout” or lot for brief, when set to true the smooth fork will activate it doesn’t matter what. This pressured activation is known as a UASF (Person Activated Comfortable Fork), and might solely succeed long run if nearly all of financial worth within the bitcoin ecosystem agrees with the change and upgrades their nodes. In any other case you will not find yourself on the heaviest chain, as miners will observe the financial majority and never improve, however in the event you do have the financial majority supporting the change, miners should observe them as a result of financial incentives from the miners wishing to get essentially the most charges attainable. Ideally the miners will sign sufficient assist earlier than the tip of the signaling interval, and the drama of a UASF could be prevented. It was the specter of UASF that induced the miners in 2017 to comply with the Segwit improve and never enhance the blocksize just like the Bcashers needed. (Sure, technically the blocksize did nonetheless enhance a bit.)
We now must briefly focus on activation parameters, these are the specifics of the activation, and consists of the next: the identify; the model bit quantity; the beginning block peak; the sign interval timeout block peak; the minimal activation block peak; the edge of blocks signaling; and eventually whether or not lockinontimeout is true or false. The identify ought to usually simply be the BIP quantity, in CTVs case, BIP119. The model bit could be any that is not getting used already. The beginning is but to be decided, I might hope it may be someday in 2024, nonetheless this can be a group resolution in the end. The sign interval timeout ought to be not less than 1 yr after the beginning, some really feel 2 or extra years could be even higher, once more this can be a group resolution and the consumer developer should attempt to choose what the bulk agree with, I might be proud of 1 to 2 years of signaling interval. The minimal activation peak is the earliest potential time that the smooth fork may activate, this may very well be earlier than the tip of the sign interval, similtaneously the timeout or after the timeout. I imagine it ought to be not less than 6 months after the beginning peak. The brink is what number of blocks in a 2 week issue interval, 2016 blocks, are required to activate by means of signaling. Typically that is 90 or 95% of the blocks, 1815-1915 blocks out of 2016. This implies 90/95% of the community’s hash energy should be signaling assist for the improve in a 2 week interval. Lastly, as we already mentioned, lockinontimeout ought to most likely be set to true in order for you the group to assist the activation try.
So how will we get to a degree of feeling assured we have now discovered consensus? Partaking with the group, having conversations with bitcoin companies and repair suppliers, and signaling assist on-line in numerous methods. Rubin’s Reubens is one instance of this signaling, and it is a enjoyable and social means to take action. Do not be afraid to ask questions on something you do not perceive or agree with, keep in mind, we confirm round right here not simply belief. Have interaction together with your favorite bitcoin companies, ask them their opinion of CTV and make sure you allow them to know yours, in any case, you’re the buyer. In case you are a developer, you would evaluate the code, or create a proof of idea for CTV. There may be at present over 5 BTC up for grabs in the event you can create a optimistic proof of idea, or a damaging that’s dangerous, plus any bugs discovered when utilizing OP_CTV. This bounty has been round for greater than a yr already, with no one discovering any points. You will discover this bounty right here: https://bipbounty.org/bounties/1e101655-bad8-5147-82f7-f03145d567af/.
After all, in a decentralized system like bitcoin, we will by no means know for positive that the financial majority need a change, we will solely take a tough guess and hope for one of the best. We can’t discover out till we strive although. I imagine we’re both extraordinarily shut or have already discovered consensus for CTV. Be sure you head to utxos.org/indicators and add your identify or enterprise to the checklist, you possibly can sign sure or no. Additionally, you will discover heaps extra details about covenants on this web site.
It is a visitor publish by George 203. Opinions expressed are solely their very own and don’t essentially replicate these of BTC Inc or Bitcoin Journal.
