Not sure what this is, can someone please explain. Thanks
BIP (Bitcoin Improvement Proposal) 66 was a proposal made in 2015 with the main purpose of improving security for Bitcoin transactions.
From the bips wiki:
Bitcoin’s reference implementation currently relies on OpenSSL for signature validation, which means it is implicitly defining Bitcoin’s block validity rules. Unfortunately, OpenSSL is not designed for consensus-critical behaviour (it does not guarantee bug-for-bug compatibility between versions), and thus changes to it can - and have - affected Bitcoin software.
One specifically critical area is the encoding of signatures. Until recently, OpenSSL’s releases would accept various deviations from the DER standard and accept signatures as valid. When this changed in OpenSSL 1.0.0p and 1.0.1k, it made some nodes reject the chain.
This document proposes to restrict valid signatures to exactly what is mandated by DER, to make the consensus rules not depend on OpenSSL’s signature parsing. A change like this is required if implementations would want to remove all of OpenSSL from the consensus code.
reddibrek, I appreciate your response. If I am correct is this 70% done? How will this help the reddcoin platform? Please answer in the simplest of terms, you are talking to a non-technical person with very limited computing skills, lol.
Really appreciate your time and answers. Thanks.
1 Like
The 70% means that at the moment 70% of the blocks in the Reddcoin blockchain are being generated by the latest version of Reddcoin, which incorporates BIP66.
We are following the percentage closely as when it hits 85% for a certain period of time then the BIP66 code that increases transaction security will become enforced forever… which is a good thing!
Transaction security in this sense does not so much mean that all kinds of fraudulent transactions can be made - the main problem is that because of the fairly loose way in which transactions were validated pre-BIP66 this made some Bitcoin nodes refuse the valid Bitcoin blockchain, which generally causes bottlenecks and an inefficient network.
This is how I understand it but perhap gnasher can give more details.
No, that is a fantastic explanation and one that I can understand, lol. Thank you so much for your response.
Is there a way I can contact you and or other developers to ask a few questions on the reddcoin platform? I can do skype if that would be easier or just communicate via this channel.