So knot is a soft fork of Bitcoin Core and they themselves create their own update/soft fork?
Discussion
I think that’s accurate. Luke used to be a Core contributor. Core didn’t make some of the changes he wanted or made some changes he didn’t want so he published knots. They are not the same instance of Bitcoin software but have the same rules and both update the same shared UTXO ledger. BCH and BSV would be examples of hard forks as they no longer share the same UTXO ledger as BTC.
Why is no one doing the same thing bit to use OP cat instead?
I don’t know. Maybe they have but who’s going to use it? I’d never trust my node to something other than a widely adopted, open source project with a rigorous review process. I’m a decent pilot but have zero ability to review lines of code.
The people who really want to use the features from op cat.
Who's going to use knot? The people who want the features.
For the people pushing op cat forward, what is the downside of starting to use it now? They can right? They just decide not to. Feels like their words don't follow their actions. Unlike Ocean crowd and filters.
Luke is an OG and arrogant enough to think he is smarter than everyone else combined. Ocean only uses it cause Luke is a founding part of the team. Most developers are not willing to burn their reputation by trying to go solo when they know almost no one will use it. But I guess they could try. They’ve decided their efforts are better spent trying to convince people through the normal process where everyone else helps ensure they aren’t making mistakes. Seems like the smart decision to me but then again I’m not a software guy, so just a simple outsider observation.
I don't see how it isn't better to do both.
Both implement and use your own upgrade to prove your commitment AND continue to go through normal process until core implement it too.
Maybe if we were software people it would be clear. For now, I guess I’ll like they way they do it better than the way I don’t 🚁 😁
that's not how it works, if I use (soft) forked version of Core with CAT, the nodes that haven't upgraded will interpret the Script with CAT as an anyone can spend, therefore creating a bounty. So even a soft fork needs the majority of nodes to upgrade to survive. Hope it helps.
"the nodes that haven't upgraded will interpret the Script with CAT as an anyone can spend, therefore creating a bounty."
I Don't understand this part. Could you elaborate?
I'll try :) because it is a soft fork, a tx with OP_CAT will be valid even from nodes that have not the soft fork. However, because they don't have the soft fork, they can't interpret any script containing OP_CAT and therefore, the inner workings of Bitcoin makes it so that these nodes will see this tx as an anyone can spend. This means that these nodes without the soft fork will interpret as valid any tx spending the utxos locked by the original tx , whereas nodes with the soft fork, will only let a valid tx with the interpretation of the CAT script, spend the utxo. So now let's say the majority of the nodes haven't upgraded, if a CAT tx gets mined somehow, the network would fork as soon as a "stealing" tx would appear because the nodes with the upgrade would reject it. I hope it helps.
I think I can wrap my head around this.
But now I wonder. How does this fork come into existence? Do we now have an other token in circulation?
It does seems to me like this is a more natural way to see a fork emerge than hard forking from the get go.