Sentences with phrase «enforced by miners»
As such, the proposal can effectively be enforced by miners only.
https://bitcoinmagazine.com/ Not exact matches
Bitcoin nodes set and enforce the rules of the bitcoin protocol, and bitcoin miners process transactions and add them into «blocks» that are confirmed by bitcoin nodes.
Soft forks that do not degrade the security properties of Bitcoin, that do not take away from any currently used features, do not add costs to miners, and are preferred by some, would result in profit - maximizing miners choosing to serve a wider audience by enforcing the soft fork.
As long as such a UASF is enforced by an economic majority, this should compel a majority of miners to follow (or activate) the soft fork.
First discussed in September 2015, Bitcoin Unlimited is a proposal whereby every individual node operator and miner would be able to choose a block size that they prefer rather than having to stick to the 1 MB limit enforced by bitcoin's consensus rules.
The network will start enforcing the new rules if enough miners are ready by then, otherwise two versions of Bitcoin will emerge.