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Ethereum: Why BIP34 has not been implemented through Locktime or Coinbase
The Ethereum project faced major challenges while maintaining a decentralized and transparent blockchain, especially when digging and developing intellectual contracts. One of the amazing problems is the lack of a standardized mining method of moving from new public keys to each subsequent block known as the BIP34 (V2 block). In this article, we will investigate why the Coinbase lock time and quality mechanisms were not used to implement the BIP34.
BIP34 Problem **
2011/12 Many mining began to use individualized mining algorithms, which ignored the best bag practice for different public keys for each subsequent block. This caused a variety of problems:
* The inconsistent public keys : There was no centralized way to follow and keep these keys safely as each new public key generated.
* Security Risk : Using personal mining algorithms that had the same public key, mining were vulnerable to harmful characters that may have predicted or guessed another public key.
Coinbase Locktime
Coinbase’s Locktime Mechanism is a popular solution to control the block time on Ethereum. The idea is to create a “lock” around Blockchain, ensuring that only specific quantities of operations can be performed during each block period. However, Coinbase’s blocking time was not used in conjunction with BIP34.
Nefonsic and its restrictions
The Neasence mechanism is another standardized way of generating new public keys in mining and promised to Blockchain Ether. Although it is an effective way to create new keys without damaging security, it also has its own restrictions. The Neasence algorithm is based on public keys, generated and committed to Blockchain, follows a certain order.
Why BIP34 has not been implemented
There are several reasons why Coinbase blocking and nonsense mechanisms have not been used to implement BIP34:
* Complexity : BIP34 implementation will require significant changes to Ethereum protocol, which is complex and improved over time.
* Safety Risk : Using individualized mining algorithms who have had the same public key at a higher safety risk, how harmful characters can predict or guess another public key.
* Inconsistent public keys
: The fact that the mining representative is lacking is to move from new public keys that are difficult to maintain consistency throughout Blockchain.
Conclusion
The use of Coinbase Block and Compliance mechanisms was not addressed by BIP34 major problems. While these mechanisms provide a safe and effective way of locking time management, they also lead to a risk of complexity and safety, which can damage the integrity of the Ethereum network. As the Ethereum project goes on, it is very important to set priorities for security and standardization of convenience and use.
In conclusion, the lack of BIP34 disagreement through the Coinbase or Nefrentiesce Locktime mechanisms was critical maintenance that had a major impact on the security and stability of Blockchain Etherum.
