On February 4th, 2020\nThe Return to Genesis was activated to restore the Satoshi Vision for Bitcoin.\nIt is locked in irrevocably by this transaction. Bitcoin can finally be Bitcoin\nagain and the miners can continue to write the Chronicle of everything. Thank\nyou and goodnight from team SV<\/em>.\u201d<\/p>\n\n\n\nThe transaction did not get mined into block 620,538 which\nwas mined by an unknown miner, hence old nodes continued to follow the majority\nchain for one block longer than expected. There may have been other\ntransactions with similar properties in the same block (620,539) however as\nthis transaction was prepared specifically for the purpose of forcing legacy\nsoftware to fork off we are referring to it as the \u201clock-in transaction\u201d.<\/p>\n\n\n\n
What is also notable about this transaction is that the above message was embedded twice. Once in the well known form of an OP_RETURN output but also embedded in a spendable output using Satoshi\u2019s original pay-to-public-key script template. We believe this may be the first ever transaction that embeds data in a spendable output using this technique. To preserve this piece of history, the private key for this output has been destroyed and as such it will remain a permanent part of the UTXO set for as long as ECDSA remains secure.<\/p>\n\n\n\n
The forking block (620,539) was mined by Taal.com and\ncontained the coinbase string: \u201ctaal.com\non behalf of Satoshi Nakamoto<\/em>\u201d which the Bitcoin SV node team feels is a\nfitting tribute to the proof of work displayed by Satoshi in creating the Bitcoin\nprotocol and the efforts of miners to restore to his original design.<\/p>\n\n\n\nThe legacy chain has been extended by an unknown miner by\none block since the fork. This is most\nlikely due to a small miner not upgrading their node to v1.0.0 or greater\nbefore the fork. We will continue to\nmonitor the state of both chains however at the time of writing the Genesis\nchain is 75 blocks ahead of the legacy chain and widely supported across the\necosystem.<\/p>\n\n\n\n
We note reports of up to 100 nodes remaining on older\nversions of the software. The Bitcoin SV\nteam does not regard this as problematic as there is no evidence of a\nsignificant amount of hashing power backing this legacy chain and it is\nexpected to cease being extended. Older versions of node software that are not\nmining are not contributing anything useful to the network and their removal is\nbeneficial to the Bitcoin network by making propagation amongst upgraded nodes\nmore efficient.<\/p>\n\n\n\n
This is, without question, the largest set of consensus\nchanges ever attempted in the history of Bitcoin and no change of such\nmagnitude is done without some level of risk. However, given that the Genesis hard fork of\nBitcoin is now 75 blocks ahead of the legacy chain and in the absence of any\nnotable problems, the Bitcoin SV team\nconsiders the Genesis upgrade to have been successfully activated. <\/strong><\/p>\n\n\n\nWe would like to thank all of the miners that participated\nin the upgrade and offered assistance in various ways. The governance of\nBitcoin consensus parameters is now in your hands. We will be available to advise but we will\nresist making recommendations and will no longer be making any decisions on\nyour behalf. We know you will take this significant responsibility seriously perhaps\nbecause you care about Bitcoin but most certainly because it\u2019s in your economic\ninterest to do so.<\/p>\n\n\n\n
Now that full capabilities of Bitcoin script have been\nunlocked we look forward very much to seeing what application developers will\nbegin to do with that capability. This\nis the beginning of Bitcoin becoming what it was always meant to be.<\/p>\n\n\n\n
Lastly we would like to offer our heartfelt thanks to Mr Calvin Ayre who made the formation of the Bitcoin SV team possible in 2018 and whose ongoing support has enabled it to grow to become the largest and most highly skilled engineering team in the history of Bitcoin. Without Calvin Ayre\u2019s support Bitcoin would have died 14 months ago but because of his support it has been now restored to the state that Satoshi Nakamoto intended.<\/p>\n\n\n\n
Thankyou.<\/p>\n\n\n\n
On behalf of the entire Bitcoin SV team,<\/p>\n\n\n\n
Steve Shadders and Daniel Connolly<\/p>\n","protected":false},"excerpt":{"rendered":"
At 1:28am GMT block 620,537 was mined and Bitcoin SV nodes of v1.0.0 or greater began accepting transactions under the restored Genesis protocol. At 1:55am at block height 620,539 the first block containing a Genesis-only transaction was mined, locking in the change. Old node software did not accept this block and forked off onto a […]<\/p>\n","protected":false},"author":4,"featured_media":4346,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[73],"tags":[],"lang":"en","translations":{"en":3847,"zh":3853},"yoast_head":"\n
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