Bitmain Announces Hard Fork Protection Plan Against UASF

On June 14 the Beijing-based bitcoin company Bitmain released a contingency plan for the upcoming so called user activated soft fork (UASF) that’s scheduled for August 1. The announcement details that if the UASF is attempted a protection plan called a user activated hard fork (UAHF) will be deployed.

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Bitmain Announces Backup Plan for UASF

According to Bitmain’s announcement UASF or BIP 148 is a dangerous attempt to split the network. The company believes UASF will have severe consequences and referred to the plan as an “attack” or a “wipe out” where there is no backup plan.      

“The UASF chain presents a risk of the original chain being wiped out,” explains Bitmain’s blog post. “If there is no contingency plan, all economic activity that occurs on the original chain after the UASF forking point will face the risk of being wiped out. This has disastrous consequences for the entire Bitcoin ecosystem.”

Astroturfing Movement Stands in the Way of Segwit2X

Bitmain says that a significant economic majority and more than 80 percent of the hashrate signed on to support the New York Agreement (Segwit2X) on May 24th, 2017. According to the company, Bitcoin Core developers declined invitations to attend the meeting. Bitmain says they support the agreement and want it to happen as soon as possible. Furthermore, the firm details the development has been very active on Github and the alpha version of Segwit2X will be delivered on June 16 on time. However, Bitmain believes there is a movement taking place on forums threatening to put the Bitcoin ecosystem at risk.

“Despite this agreement, the UASF (BIP148) astroturfing movement continues to get lots of airtime on censored forums, many of which are controlled by single anonymous individuals,” Bitmain states.

Many of the software developers who work in a software project called “Bitcoin Core” are also supporting it. BIP148 poses a significant risk for the Bitcoin ecosystem, so we are preparing a contingency plan to protect the economic activity on the Bitcoin blockchain from this threat. The New York agreement is also continuously and intentionally sabotaged by a group of software developers working on Bitcoin Core.

Bitmain Will Work With Developers and Dedicate Resources to the UAHF Contingency Plan

Because of the threat to the network on August 1 the company believes the community should be prepared for the “disruptive risk.” Bitmain further details there is no replay attack protection for UASF and lots of users and businesses may suffer with issues. Following the company’s perception of BIP 148 Bitmain details the UAHF contingency plan and replay protection.

Bitmain Announces Hard Fork Protection Plan Against UASF

Bitmain says they will be working with the developer community on the contingency plan and will deploy some of its own hashrate towards the UAHF. “We will develop options for miners to voluntarily join us,” the company also details.

Bitmain will mine the chain for a minimum of 72 hours after the BIP148 forking point with a certain percentage of hash rate supplied by our own mining operations. Bitmain will likely not release immediately the mined blocks to the public network unless circumstances call for it, which means that Bitmain will mine such chain privately first.

The contingency plan is a long read that is very descriptive and technical. Bitmain concludes by saying that they recommend Bitcoin businesses research the effects a UASF will have on the network. The company believes everyone should be prepared to “mitigate or eliminate the risks that UASF carries.”

What do you think about Bitmain’s recent announcement? Do you agree or disagree with the company’s move here? Let us know what you think in the comments below.

Images via Twitter and Shutterstock. 

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  • angreeee .

    bitcoin is becoming a sad joke

    • The joke is that I had to sell my holdings 1 week before the big 2nd bounce started. I swore I’d not miss it again. Ugh!

      • Blessed Ebuka

        I am just observing ????? bitcoin, bitman,hardfork,softfork,bitfury,bitcoincore community and so on

  • It is pointless to be surprised and the protection of OUR system is a must! The first big mistake was to allow being part of the cheating FIAT currency system since it was thought to replace it. The second big mistake is underestimating the jealeous greedy mind having screwed up everything so far across our entire history. Well, well, the blockchain family is called for action as a close entity of anybody dreaming, wanting, working with data coins of any origin or by 2018 there will be nothing but meltdown. Lets blog warn invite everybody with a penny of intelligence.

    • Let me tell you something about ‘our system’. The governments of the world control the entry/exit to fiat. You say, who cares? Well, until I can buy and sell everything in Bitcoin, it makes it cumbersome to obtain Bitcoin at all. First you jump through 10 hoops, then, one day, mysteriously, your account is shut down (too much trading?) for no explained reason (Coinbase no longer has my support, as nice a site they built). We need much more entry/exit competition throughout the globe. We users could do something about that, with Local Bitcoin exchanges and such.

      • seems you love misunderstanding, I did not say “who cares” but I well know you do not understand the FIAT system. Governments are solicitors to it, asking for allowance of fresh money emission and will have such permit after issuing debt bonds (citizens debt in consequence) as a condition. The BIS (Bank of International Settlement) got more power but all IMF members together and you see the lead of btx and eth tumbling in perfect synchronization with the tech market in stock exchange of the FIAT system. No point that Corean intensively trading on eth and no point that a remedy against the dangerous fork will be settled. Now irritated to loose much power in a decentralized environment lead bankers of the third floor start investing into own “true” bank blockchain product. This finally will absorb the free market created until now and crypto currencies again must obey a vertical banking structure if we let this happen. The economy of direct participation built on blockchain independent coins and its important attachments will have its end….sadly the community is far to intense on tech level and far less aware of the economic revolutionary boost it can bring when such a fundamental facility of speed sharing and applications over-ruling the FIAT system by demand and without spending a bullet to bring down the downward spiral of debt and inflation. Having said this, the way Bitmain talked about the fork influenced the bitcoin market and could have been expressed other than nerveous kids language. Anyway, true danger lives in centralized vs decentralized, at least in the branches of finance, politics, military. I do focus on this and believe it worth to share with you.

        • Wish you had replied to him instead of me 😉

  • Not surprised the largest mining contingency will disrupt. This sounds exactly like the split they wanted last year and sounds exactly like the block signaling tactic they tried somewhere in March. FOD over a blockchain that will still exist if there is a problem. Sounds like sour grapes to me. Well if they happen to be the only place to pool mine, I’ll be there. Or, if they clarion not so true I will stay in the pool I know. There has to be more to their ma-china-shins, like they have a flaw in the miner they build and may have to build a new one??? Just a guess.

  • Gotta love contingency plans. It is normal behavior. Don’t get so worked up. Ever hear, “Don’t put all your eggs in one basket!”. Now would be a good time to buy BTC

  • Shamus

    IMO: China wants control of Bitcoin. They will not get and will fail. Foresee a HF to get Bitmain out of lost revenue. Bitmaincoin coming.

    • About as likely as a small thermonuclear device being detonated in a major city. Both are sadly increasingly likely.