Bitcoin developers couldnât settle on the specifics of Taprootâs activation, so they used a âcoin tossâ on the Bitcoin blockchain this Tuesday to wrap up activation discussions that began a year ago.
According to blockchain data pulled from this journalistâs Bitcoin node, the result of the coin toss has determined that Taprootâs activation timeline will be measured using median time passed (MTP) instead of block height.
For the actual âtoss,â the last digit of the block 678079âs hash were used to decide the outcome where a value of 0 represented MTP and a value of 1 represented height.Â
Taproot â an upgrade that will enrich Bitcoinâs smart contracts â is all set to go using the âSpeedy Trialâ activation method outlined a month ago. Todayâs coin toss settled a dispute, though, over how the Bitcoin blockchain will measure the time that has passed between when the upgrade is released and when it will âtime-out.âÂ
There were two options up for debate: one using âblock height,â which chooses a timeout that triggers once a specific block is mined and the other using MTP, which chooses the timeout based on real-world time derived from block data.
The coin toss occurred on block 678079 and the result landed on MTP. Following the result, Bitcoin Core contributor Andrew Chow removed his pull request for a block height-based scheme.
MTP means that when Taprootâs code is shipped, miners and node operators will have a time period of exactly three months to upgrade to Taproot before a timeout period is reached.Â
If miners representing 90% of Bitcoinâs hashrate upgrade in this timeframe, then Taproot is âlocked inâ and it will activate three months after this lock-in. Assuming Taproot is shipped by May, this means the upgrade would be fully functional on the Bitcoin blockchain no later than November.
âWe have two good options, and coin flip is people agreeing to put aside minute preferences on two acceptable options for the big picture,â Bitcoin Core contributor Jeremy Rubin wrote in a Bitcoin devlist email. âAs such, I think that a coin flip is appropriately used in this circumstance, although I recognize the sentiment that some may feel itâs treating development a little too *flippantly*.â