Post
Topic
Board Development & Technical Discussion
Topic OP
Bitcoin Constitution - Looking for feedback
by
upal
on 22/02/2016, 23:49:59 UTC
In the light of recent disagreements that is going on regarding consensus, I thought of if we can define a mathematically verifiable process to achieve the same. Hence I have put up my idea in details at http://upalc.com/bitcoin-constitution.php. The basic is as follows...

1. At least 21 bitcoin should support a hard fork proposal to be discussed. A poll, created on www.bitcoinocracy.com and backed by 21 bitcoins, will suffice for Hard Fork to be discussed by miners. Please note that, 21 is an arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.

2. More than 50% hash power should support the proposal for at least 21 difficulty period. This can be determined using www.blocktrail.com/BTC/blocks/1 or www.coin.dance/blocks. Please note that, both 50% and 21 are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.

3. More than 50% coin must support the proposal, where the total amount of coins participating in the poll is more than 1% of the total supply. This can be determined using a poll on www.bitcoinocracy.com. Please note that, both 50% and 1% are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal.

Any hard forking change should give the network enough time to be aware, test and upgrade. Hence, I propose, all hard forking changes are pushed together only at the time of block reward halving, i.e. once in every four year.

Please feel free to rationally criticize and provide your valuable feedback on this proposal.