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The Tradeoffs of Bitcoin Soft Fork Upgrades

Despite being generally known as a protocol that is sluggish to change, Bitcoin does have its personal method to add new functionalities to the community. Soft forks, a sort of improve that ensures those that don’t use the brand new software program can nonetheless take part within the peer-to-peer community, is doubtless the popular technique to introduce novel options to Bitcoin. However, do tender forks have their downsides? What are the tradeoffs for Bitcoin customers?

A panel moderated by Ben Perrin, creator of the BTC Sessions YouTube channel, at Bitcoin 2022 set out to discover that query. The dialog, “Soft Forks: Benefits And Tradeoffs,” featured long-time Bitcoin developer and educator Jimmy Song, developer and founder of Bitcoin R&D group Judica Jeremy Rubin, and thought-provoking Bitcoin blogger Paul Sztorc.


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