Bitcoin SV

<p>ELI5: BSV Alert System</p><p>Written by</p><p>Todd Price</p><p>Published On</p><p>15 Feb 2024</p><p>The Alert System (AS), managed by the BSV Association (BSVA), is a crucial component within the BSV network as a sophisticated system for publishing messages within the network. These messages, which carry significant weight due to their association with the Network Access Rules (NAR), can be either notifications (like software update announcements) or directives (such as freeze, unfreeze, or reassign commands for transaction outputs).</p><h2 id="header-0">Function and Process of the AS</h2><ul><li>The AS operates through a group of five Alert Key Holders, each possessing a unique digital signature capability.</li><li>These key holders collectively validate and approve critical messages that are to be broadcast across the network.</li><li>The system ensures checks and balances, requiring a consensus among these key holders for an alert to be issued. This process prevents unilateral actions and maintains a fair governance system.</li></ul><h2 id="header-1">Types of Alerts and Their Impact</h2><ul><li>Notifications: Inform users about updates or general information regarding the network.</li><li>Directives: Include operational commands such as freezing or unfreezing transaction outputs or reassigning them to new addresses. These directives play a crucial role in maintaining the integrity of the network.</li></ul><h2 id="header-2">AS and Network Access Rules (NAR)</h2><h3 id="use-of-as-with-nar">Use of AS with NAR</h3><p>While it does not, in and of itself, directly give rise to or enforce actions by network users, the AS operates in conjunction with the NAR. The BSVA, acting as stewards of the BSV network, assumes responsibility to ensure that all messages published through the AS are accurate so that network users, including nodes, will not incur damages from acting upon these messages. This structure ensures that directives from the AS are not just recommendations but carry a legal weight, compelling nodes to act in accordance with the messages.</p><h3 id="protection-and-compliance-for-nodes">Protection and compliance for Nodes</h3><p>Nodes that comply with directives issued through the AS are protected under the NAR. This compliance is crucial as it aligns with the legal framework set by the BSVA, ensuring that nodes operate within the boundaries of agreed-upon rules and regulations. Conversely, nodes that choose to disregard AS directives risk losing this protection. Non-compliant nodes face the consequence of being isolated and ignored by the honest actors in the network.</p><h3 id="clarifying-the-role-of-nodes">Clarifying the role of Nodes</h3><p>Nakamoto Consensus is the process by which nodes come to an understanding of the current chain tip and is an innovative economic solution to the Byzantine Generals Problem. As outlined in the Bitcoin White Paper, Nakamoto Consensus is used to enforce any needed rules in the system, and Nakamoto Consensus relies on honest participants not building on top of dishonest behaviour.</p><p>The Alert System is a mechanism by which the BSVA can help nodes identify dishonest behaviour and ensure that malicious actors cannot overpower the network.</p><p>The role of an honest node is clearly defined and limited to completing the six steps outlined in section 5 of the Bitcoin White Paper, where the attempt is also made to clearly identify and distinguish honest and dishonest behaviour. Nodes are not vested with the authority to determine new rules or protocol changes, only to enforce rules as determined by the BSVA, an authority granted by BSVA’s stewardship of the original Bitcoin protocol.</p><h2 id="header-3">Use of AS in Maintaining Network Integrity</h2><ul><li>The AS is used primarily to ensure that nodes operate honestly and adhere to the NAR and the ‘set in stone’ Bitcoin protocol.</li><li>Actions are taken only in cases where nodes display dishonesty in following the NAR and the protocol. This underscores the system’s role in upholding network integrity and reliability.</li></ul><h2 id="header-4">Conclusion</h2><p>The Alert System within the BSV network, as overseen by the BSVA, plays a pivotal role in disseminating important notifications and directives. Its operation, deeply integrated with the Network Access Rules, ensures that the network remains honest, lawful, and aligned with its foundational principles. The AS, through its methodical and consensus-driven process, reflects the BSVA’s commitment to maintaining a transparent, orderly, and trustworthy blockchain environment.</p><h3 id="disclaimer">Disclaimer</h3><p>The content of this document is provided for informational purposes only and is not intended to modify or supersede the contractual rights or obligations of any party to the Network Access Rules. Parties are encouraged to carefully review the Network Access Rules to verify the accuracy of the information presented here. It is assumed that, where necessary, parties will seek guidance from their legal counsel and any other advisors they consider necessary.</p>

ELI5: BSV Alert System

Indice dei contenuti

BSV Blockchain

Altri articoli pubblicati su 19 feb 2024

Crypto-related VC funding rises by 2.5% in Q4 2023

TRON and DOGE Exhibit Upward Trends in Cryptocurrency Markets, Borroe Finance’s Presale Attracts ...

Bitcoin’s hash rate surges, but what’s up with miner fees?

Bitcoin Breaks $52,000 Barrier Again as Cardano and Ripple Poised for Potential Upswings

Crypto Analyst Unveils Top AI Trend And Coins This Bull Run

Ethereum Co-founder Backs AI: Don’t Miss the Green Wave in Big Data Tokens

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!