delvingbitcoin
On consensus changes in bitcoin 2024
Posted on: January 3, 2024 09:18 UTC
The email references a blog post by Rusty Russell that focuses on the model for Bitcoin soft fork activation.
The core principle outlined in Russell's post, which can be found at http://rusty.ozlabs.org/2021/02/26/a-model-for-bitcoin-soft-fork-activation.html, is succinctly encapsulated in the phrase "Devs propose. Miners activate. Users override." This model delineates the roles of different stakeholders in the process of activating soft forks in the Bitcoin network.
Developers are responsible for proposing changes or improvements to the protocol. It is the miners who have the power to activate these proposed changes by signaling their support during the mining process. However, ultimately, it is the users who have the ability to override the decisions made by both developers and miners. This reflects a system of checks and balances where each group has a distinct function and influence over the network's evolution, ensuring that no single entity can unilaterally enforce changes without consensus.
The sender of the email appears to be engaging in a discussion about seeking broader consensus in the context of cryptocurrency governance, juxtaposing their thoughts with the activation-focused perspective of Russell's post. They express appreciation for the main idea presented by Russell and seem curious about the recipient's opinion on the matter. This invites further dialogue on the complex interplay between proposal, activation, and user sovereignty in the realm of Bitcoin soft fork activation.