Bitcoin Begins Segregated Witness Era, What Happens Now?
Thursday, October 27th, 2016. Segregated Witness (or SegWit) was added to Bitcoin Core. Will that day be the official end of the two-year-old “Block Size Debate?” will yesterday be the first step towards a mainstream-ready global decentralized digital currency? Whether you know it or not, Bitcoin has officially stepped into a new era of expansion and usability with the release of Bitcoin Core 0.13.1. Here, we’ll give you a cliffnotes version of what happens next and if we are even ready for SegWit. This can get uber-technical, but don’t worry. I’m not the one to lay out all the source code....
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It is going to be a wild summer for the price of Bitcoin. The only certainty in the space will be change. Watching the roller coaster is fine for the speculators out there, but maybe new protocol reinforcements will help spur prices higher, and stabilize the environment. The much-hyped Segregated Witness application is about to be brought into play, if it hasn’t already, by the Bitcoin Core developers. Confirming the unconfirmed. News of the advancement forward of Segregated Witness, or SegWit, made waves on Reddit’s r/Bitcoin Thursday afternoon in the form of a single forum discussion....
Segregated Witness might be the most significant improvement to the Bitcoin protocol to date. The innovation is set to fix transaction malleability, offers an effective block size increase, enables development flexibility and more. After months of coding, Segregated Witness is getting close to rollout, as a pull request was submitted to Bitcoin Core earlier this week. How close to roll-out exactly? As with any change to the Bitcoin protocol, that is hard to predict. A Segregated Witness timeline ... Each improvement to the Bitcoin protocol starts with an idea. The Segregated Witness idea....
If one proposal excited attendees at the recent Scaling Bitcoin workshop in Hong Kong, Bitcoin Core and Blockstream developer Dr. Pieter Wuille's Segregated Witness was it. Praised by many within the technical community, Segregated Witness is expected to improve Bitcoin's performance in a number of ways, while some even hope it might be the scaling solution that helps bring some peace back to the Bitcoin community. The first and second partsof our three-part Segregated Witness series covered how it works and what it does. In this final part we explore what it means for the block-size dispute.
Segregated Witness has been merged into Bitcoin Core. During a Bitcoin Core development meeting on Thursday, it was decided that the code for Segregated Witness (SegWit) is ready to be merged into the master branch. According to Bitcoin Core contributor Eric Lombrozo, the merge is expected to take place in the coming days. Why This Is a Big Deal. Segregated Witness is an improvement to the Bitcoin protocol that enables a variety of new features and enhancements to the network. Much of the Bitcoin community is excited about this change due to its effective increase to the Bitcoin block size....
Future changes will be coming to Segregated Witness, but the solution will not act as a blocker for other network upgrades by any means. A new announcement was made by the Bitcoin Core developers, detailing how they are progressing with the Segregated Witness implementation. Some fundamental issues need to be addressed with the current proposal, and Jeff Garzik wrote a lengthy post on how the team is planning to discuss these topics. But the bigger question is: how will the Bitcoin community move forward from here on out? Even though soft forking Bitcoin to implement Segregated Witness is....