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Updated for 1 April deadline achieved #9

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Update for April 1 deadline achieved.
gavinandresen Mar 21, 2012
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Merge remote branch 'upstream/master'
gavinandresen Aug 31, 2012
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9 changes: 4 additions & 5 deletions bip-0016.md
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Expand Up @@ -90,19 +90,18 @@ Avoiding a block-chain split by malicious pay-to-script transactions requires ca

To gracefully upgrade and ensure no long-lasting block-chain split occurs, more than 50% of miners must support full validation of the new transaction type and must switch from the old validation rules to the new rules at the same time.

To judge whether or not more than 50% of hashing power supports this BIP, miners are asked to upgrade their software and put the string "/P2SH/" in the input of the coinbase transaction for blocks that they create.
To judge whether or not more than 50% of hashing power supports this BIP, miners were asked to upgrade their software and put the string "/P2SH/" in the input of the coinbase transaction for blocks that they created.

On February 1, 2012, the block-chain will be examined to determine the number of blocks supporting pay-to-script-hash for the previous 7 days. If 550 or more contain "/P2SH/" in their coinbase, then all blocks with timestamps after 15 Feb 2012, 00:00:00 GMT shall have their pay-to-script-hash transactions fully validated. Approximately 1,000 blocks are created in a week; 550 should, therefore, be approximately 55% of the network supporting the new feature.

If a majority of hashing power does not support the new validation rules, then rollout will be postponed (or rejected if it becomes clear that a majority will never be achieved).
On March 16, 2012, the block-chain was examined and more than 550 of the previous 7 days' blocks contained "/P2SH/" in their coinbase. Therefore, after 1 April 2012, 00:00:00 GMT all blocks shall have their pay-to-script-hash transactions fully validated.

==Reference Implementation==

Coming Soon
https://github.com/bitcoin/bitcoin

==See Also==

* https://bitcointalk.org/index.php?topic=46538
* The [[BIP 0013|Address format for Pay to Script Hash BIP]]
* M-of-N Multisignature Transactions [[BIP 0011|BIP 11]]
* [[BIP_0016_QA|Quality Assurance test checklist]]