delvingbitcoin
Modeling (Social) Consensus About (Cryptographic) Consensus Change
Posted on: September 17, 2024 07:23 UTC
The exploration of consensus changes within the realm of blockchain technology, particularly in Bitcoin, highlights the significant time and challenges involved in introducing and implementing these changes.
Drawing on Karl Popper's theory of falsification, which posits that a scientific theory must be falsifiable through empirical testing to be considered valid, this discussion evaluates the process of making consensus changes in the blockchain context. The principle here is to ascertain whether such changes can withstand the rigors of empirical testing, akin to scientific theories.
ZmnSCPxj's Law of Ossification provides an insightful perspective on the difficulties associated with making substantive changes to consensus rules after a blockchain network matures. An illustrative example of this is the development and implementation of Merkelized Abstract Syntax Trees (MAST), which enhance privacy and efficiency in smart contracts by allowing the inclusion of conditions for how funds can be spent. Despite being first mentioned in 2013, it took until 2021 for MAST to be incorporated into Bitcoin's consensus rules through BIP341, marking an eight-year journey from concept to codification.
This extended timeline underscores the inherent challenges in modifying consensus rules within a well-established blockchain framework. It suggests that if a proposed consensus change cannot be deployed within one halvening period (the event approximately every four years when the reward for mining Bitcoin transactions is halved), it is unlikely to be adopted at all. This observation points to the critical nature of timing and the window of opportunity for introducing and ratifying changes in the blockchain ecosystem, reflecting on the broader theme of technological evolution and adaptation in decentralized networks.