Comment on Bitcoin mining is no longer profitable
Hirom@beehaw.org 3 weeks agoTezos would still require all nodes to upgrade to the code which contains the new algorithm. It can’t just automatically know what the new code is. It then can schedule these to activate at a certain block using a signaling system of some sort.
Code proposal, vote on new code activation of new code, are all Tezos on-chain operation. These operations include a hash of the new code to be deployed. There’s some off-chain work happening to update tools, which I guess include compiling said code. So you’re right, some off-cain action is needed for deployment www.tezosagora.org/learn#an-introduction-to-tezos…
My understanding is that compared to BTC governance, a larger part of the process happen on-chain. Also there is a relatively smaller portion of nodes (baker) involved in creating/verifying blocks that must update. This allowed various protocol changes without forks over the years.
locuester@lemmy.zip 3 weeks ago
It’s no different. A new version of the consensus code needs written and deployed.
That page you linked is the same on all chains. All have a proposal, discussion, implementation, waiting period (for code to be deployed), and activation. That’s just blockchain 101
Hirom@beehaw.org 3 weeks ago
I though most of those steps didn’t occur on-chain in the case of bitcoin. But I could be mistaken.
Could you share a link with the equivalent information on bitcoin, ie its governance process and how each governance operation (proposal, vote, activation ) is handled by the chain?