Explaining Taproot Activation and LOT=True VS LOT=False - The Van Wirdum Sjorsnado 29

Bitcoin Magazine Podcast · Feb 27, 2021 · 40m

For more technical content like this Subscribe to The Van Wirdum Sjorsnado in your primary podcast app!

http://nadobtc.btc.libsynpro.com/website

In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss activation of the Taproot soft fork upgrade, and more specifically, the lock-in on timeout (LOT) parameter. The LOT parameter can be set to either “true” (LOT=true) or “false” (LOT=false).

LOT=false resembles how several previous soft forks were activated. Miners would have one year to coordinate Taproot activation through hash power; if and when a…