BHB official statement on proposed “Emergent Consensus” hard fork

  1. Clear activation and on-chain coordination processes.
  2. Long grace period which reflects a pessimistic and conservative assessment of node upgrade capacity.
  3. Strong 2-way replay protection which does not place excessive burden on the users.
  4. Wipe-out protection, meaning that the hard fork must be permanent.
  5. Must be entirely open-source at all times of the development and implementation process.
  6. Must be peer-reviewed and tested extensively over a sustained period of time.
  • The Bitcoin development community, including protocol and non-protocol developers, signaled by public statements or acquired in our interactions with experts.
  • Bitcoin miners, signaled using hashing power.
  • Individual Bitcoin full-nodes, signaled by software version.
  • Delegated “super nodes”, such as Bitcoin wallets and block explorers as signaled by public statements and software version if nodes are public.
  • Economic nodes, such as Bitcoin exchanges, Peer-to-peer trading platforms, brokers, liquidity providers and payment processors, signaled by public statements and software version if nodes are public.
  • Unpredictable hard-fork activation and disruption of business processes.
  • Remote shutting down of nodes leading to unavailability of funds.
  • Replay attacks leading to loss of funds.
  • Reorganization back to the original chain leading to loss of funds.
  • Unpredictable increases in network resources leading to increased operational costs.
  • Spontaneous network splits due to varying block-size configurations across the network.
  • We will refuse to integrate the Bitcoin Unlimited coin (BTU) in our proofs of concept offerings to our customers.
  • We will not propose services based on BTU as an alternative currency option alongside BTC to our customers.
  • We will not incubate start-ups offering services that use BTU.

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