BitMEX Launches a Segwit and Bigger Bitcoin Blocks Prediction Market
BitMEX, a digital currencies exchange that offers 100x futures on bitcoin, ethereum and other currencies, today announced they are to launch two new prediction markets related to the bitcoin scalability debate. The first one is a segwit prediction future on “whether or not BIP141, also known as Segregated Witness, will be activated on the longest Bitcoin chain by the expiry date (31 December 2017, 12:00 UTC).” The second one is BLOCKS, which is “a prediction future on whether a block larger than 1MB will be mined on the longest Bitcoin chain.” This, of course, precludes segwit, defining....
Related News
Slush, CEO & IT Architect of SatoshiLabs, the parent company of Bitcoin hardware wallet manufacturer Trezor, believes that without Segregated Witness (SegWit), Bitcoin will be like gold - just as bad, inefficient and limited in functionality. SegWit was originally released in Bitcoin Core v0.13.1 on Oct. 27, 2016, as a scalability solution. It was designed to maximize block size and reduce Blockchain congestion in order to handle a larger volume of transactions. In the past, developers such as Lightning co-author Thaddeus Dryja noted that SegWit is an actual block size increase....
One thing people have to keep in mind is how Segregated Witness has an actual expiration date. Now that SegWit activation signalling has begun, it will be interesting to see which pools support Bitcoin Core. On the first day, support is quite lacklustre, with only three pools in favor. The vast majority of pools have not expressed their preference yet, and there is still a long way to go. But it goes to show reaching 95% consensus is not only doubtful, it is highly unrealistic Whether or not one favors SegWit over anything else, a block size solution has to be formed. So far, BTCC,....
Bitcoin Core’s scaling solution Segregated Witness (Segwit) will likely support 1.7 MB bitcoin blocks when activated, testnet experiments have revealed. According to Smartbit, a bitcoin testnet data provider, Segwit is currently able to process 1.7 MB blocks on the bitcoin testnet, with more than 8,865 transactions. The current bitcoin blockchain capped with a 1 MB block size can only handle around 2,500 transactions. However, the transactions processed on the testnet were p2pkh transactions. Although the standard 1 MB blocks are limited to process around 2,500 transactions, they can still....
Last week, Bitcoin Core version 0.13.1 was released, officially bringing Segregated Witness (SegWit) to Bitcoin. 4 days in, 13.7% of Bitcoin nodes has already upgraded to Bitcoin Core 0.13.1, supporting the activation of SegWit. SegWit is an innovative scaling technology developed and introduced by the Bitcoin Core development team. Once it reaches a soft fork activation threshold, it will separate the transaction signatures from the initial transactional data, which immediately increases the capacity of blocks and eliminate transaction malleability. Like all soft forks, the SegWit release....
Litecoin creator Charlie Lee believes that the price of the digital currency could reach $14 when SegWit is activated on the network. On Saturday, F2Pool mined Segregated Witness (SegWit) blocks for both Bitcoin and Litecoin. Charlie Lee tweeted that he sees a 72.34 percent chance of another pool signaling for SegWit in the next seven days. He equates the estimated prices to the level of signaling the network has received thus far: 20 percent => $4, 60 percent => $9, 100 percent => $14. There are indications the network will activate SegWit soon. It creates excitement - even in....