The Bitcoin update, Taproot, in a dilemma

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According to its developers, Taproot, the new Bitcoin update is ready. All that remains is to choose a way to apply it.

Did you like the content? Share it It should be noted that Taproot comes to strengthen the capabilities of the Bitcoin network to improve everything related to smart contracts.

In an attempt to have a clear picture to speed up the implementation of this update, the main programmer A. J. Towns, conducted a survey. In the survey, he asked 12 different programmers for their views on the update.
Implementing the Bitcoin Update by Imposition

The programmers have been divided on how the Bitcoin Era platform update will be implemented. Although they all agree on the need for it, it’s in the details that they’ve come up with what they call small contradictions.

These differences of opinion could mean that the application, even of „soft forks“ like this one, is not without its dangers.

In that sense, CoinDesk reviews, some of the programmers believe that the best way of implementation is by imposing Taproot on the miners. To do this, at first there should be signs inviting them to apply the update.

As long as a considerable number of miners are updated with Taproot, a deadline or „flag day“ will appear for the rest. Thus, when the flag day passes, the nodes will reject the blocks and transactions of those who have not agreed to implement the Bitcoin update.

This would encourage miners to adopt the update, or not have access to the Bitcoin mining earnings. This is an imposition that not all programmers view with favor.

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A Hybrid System

The second proposal for the implementation of Taproot comes from programmer Matt Corallo. He assures that, after the respective invitations to the miners to upgrade, a time frame should be left in which the upgrade will be compatible with the current kernel in a hybrid system.

If in that time, he explains, there aren’t enough Bitcoin miners who want to apply the update, then it will be reviewed. In other words, Taproot would enter a six-month revision period, in which it would be made the corresponding changes, if necessary, to bring it back with more attractive qualities.

Corallo doesn’t agree with a flag day, since, according to him, this could cause a split in the Bitcoin chain. In other words, two rival factions of users and miners would appear with two different versions of the Bitcoin core.

Both proposals await the level of acceptance this update will have among Bitcoin miners. If the level is high, then the flag day measure won’t be necessary.
Mat Corallo thinks that it’s not necessary to apply the Bitcoin update in a forced way. Mat Corallo thinks that it’s not necessary to apply the Bitcoin update in a forced way.

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A third proposal

In an attempt to reconcile the two implementation proposals, Towns assures that an intermediate alternative exists. This consists of giving the miners a period of 5 years. Thus, he considers, they will have enough time to know the update and be able to install it.

Some differ from this third option in Town’s survey. They claim that the upgrade, being worked on since 2018, already has a prudent time frame in which it should be known, at least in a general way, by the miners.

However, this update, when launched, will be received with suspicion by the Bitcoin miners. A third proposal In an attempt to reconcile the two implementation proposals, Towns assures that an intermediate alternative exists.
This consists of giving the miners a period of 5 years.

Thus, he considers, they will have enough time to know the update and be able to install it. Some differ from this third option in Town’s survey.
They claim that the upgrade, being worked on since 2018, already has a prudent time frame in which it should be known, at least in a general way, by the miners.
However, this update, when launched, will be received with suspicion by the Bitcoin miners.
If there’s anything going on in the business world, it’s that investors are conservative.