Dear Bitcoin Development Community,
I am reaching out to share a solution I have developed to address the
anticipated 2106 overflow issue. After a significant development period, I
believe the solution is ready for a community review.
Below, you will find an abstract summarizing the key aspects of this proposal,
which is titled "BitBlend:A Non-Disruptive Solution to the Bitcoin 2106
Timestamp Overflow.” The abstract aims to provide a concise overview of the
solution's approach and objectives. For a more detailed understanding, I have
also included a link to the full white paper hosted on GitHub.
Abstract:
The Bitcoin network faces a significant technical challenge as it approaches
the year 2106, when the 32-bit field for block timestamps will reach its
maximum value. This paper introduces "BitBlend," a solution designed to address
this impending overflow without necessitating a coordinated hard fork or
consensus change. Similar to the idea by Pieter Wuille [2], BitBlend proposes a
novel reinterpretation of the existing 32-bit time field, extending its
functionality by representing only the last 32 bits of the full timestamp. The
solution incorporates an innovative overflow detection and correction method,
named the BitBlend procedure, which seamlessly integrates into the current
system. Key to BitBlend is maintaining the original 32-bit format for external
communication while employing a 64-bit internal representation for block times.
This dual approach ensures backward compatibility and network continuity,
allowing nodes to gradually adopt the update without synchronization.
Additionally, BitBlend addresses the implications for time locks, advocating
for the natural expiration of absolute time locks post-2106 and the continued
use of block height and relative time locks. This solution prioritizes
minimal alterations to Bitcoin's core components, striving to preserve its
foundational principles while ensuring its longevity and functionality. The
paper seeks feedback from the Bitcoin development community on the feasibility
and potential integration of the BitBlend solution into the Bitcoin protocol.
Link to Full White Paper:
https://bitblend2106.github.io/bitcoin/BitBlend2106.pdf
I would greatly appreciate any thoughtful reviews, comments, or suggestions you
may have regarding the BitBlend solution. My user name is BitcoinBitBlend on
proton mail.
Thank you for your time and consideration. I look forward to your valuable
input.
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