Bitcoin Core to Get SegWit Soon, Still a Long Way to Go for Implementation
The Bitcoin Core development team has fixed most of the issues related to SegWit v 0.13.1 software package, expected to go live on November 15, 2016. The Bitcoin protocol may soon expect few changes to happen for good. Segregated Witness, also known as SegWit, which happens to be one of the scalability solutions is finally ready for release. The Bitcoin Core development team has reportedly fixed most of the issues related to SegWit v 0.13.1 software package. The latest version is almost ready to go live in its current state by Monday. However, it may take at least a year for it to be....
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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....
“Segregated Witness [Segwit] is the most radical and irresponsible protocol upgrade Bitcoin has faced in its eight year history,” wrote the pseudonymous author Jaqen Hash’ghar for Medium. “The push for the [Segwit] soft fork puts Bitcoin miners in a difficult and unfair position to the extent that they are pressured into enforcing a complicated and....
In a post on the Bitcoin development mailing list today, Blockstream CTO and long-time Bitcoin Core contributor Greg Maxwell laid out the case that an unnamed Bitcoin mining hardware manufacturer is using a flaw in Bitcoin’s proof-of-work implementation to gain an efficiency advantage of up to 30 percent over other miners. Moreover, this could explain why Segregated Witness (SegWit), the Bitcoin protocol upgrade proposed by the Bitcoin Core development team, is blocked by some miners. Many therefore suspect the hardware manufacturer in question is Bitmain, whose CEO Jihan Wu is a staunch....
Over the past month, many Bitcoin exchanges, startups and experts weighed in on the debate between Segregated Witness (SegWit) and Bitcoin Unlimited (BU) supporters. The main claim of SegWit supports is that nearly 60 percent of nodes within the Bitcoin network are supporting the activation of SegWit. According to 21 Inc’s Bitnodes, approximately 56 percent of all Bitcoin nodes are in support of Bitcoin Core 0.13.0 and the other two minor updates of Bitcoin Core which includes SegWit support on testnet. What is the debate about exactly? In comparison, BU supporters and developers,....
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....