Final Countdown: Bitcoin Core’s Segwit to be Released After Long Testing
Bitcoin Core’s innovative solution designed to scale the Bitcoin network by moving witness data outside the traditional block structure is finally approaching its release. The Bitcoin Core team announced on Twitter that the Segregated Witness release is on its “final countdown,” with various tests and necessary information in place to upgrade the Bitcoin network. Segregated Witness is a sophisticated scaling technology designed to provide two major benefits to Bitcoin miners, users, and businesses: elimination of malleability and capacity increase. Initially, the Segwit proposal was....
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The code for a long-in-development bitcoin scaling solution could be ready for activation as soon as 15th November. The new software – version 0.13.1 – will include more code for Segregated Witness (SegWit), enabling users (and, perhaps most notably, miners) to begin the upgrade process. The launch will kick off a process by which the extended stakeholders in the distributed network will be asked to signal whether they support SegWit. The news comes from an update on a mailing list for developers working on bitcoin's primary software, Bitcoin Core. There, developer Pieter Wuille posted new....
The bitcoin price chart has regained some lost ground, yet the long-term chart shows the next rally has not been signaled, even as $1,750 swirls in the tea leaves. Yesterday was an historic day not only for Britain, with the pound dropping to its lowest level in decades, but also for Bitcoin as SegWit was merged in the Core code repository. SegWit remains in developer testing and will be officially released – for wider testing – in an upcoming release candidate. Major benefits include lower protocol network traffic, less block space consumption, and the elimination of malleability. The....
Segregated Witness, Bitcoin Core’s innovative scaling solution, is expected to be released on November 15 2016, in Bitcoin Core’s 0.13.1 release. Bitcoin Core developer Pieter Wuille made the announcement in the Bitcoin-dev mailing list, in which he stated that BIP 141, or the SegWit soft fork proposal, could be activated on the 15th of November if the 95% hashpower validation threshold is reached. Wuille wrote: “Following the BIP9 recommendation to set the versionbits start time a month in the future and discussion in the last IRC meeting, I propose we set BIP 141's start time to November....
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....
SegWit is short for Segregated Witness. It was perhaps the biggest Bitcoin protocol upgrade to date, which wrapped several improvements and fixes into one. Further Reading: What Is Bitcoin? What Are the Benefits of SegWit?As probably its most notable fix, SegWit got rid of transaction malleability. ...