Bitcoin Core 0.13.1 Enables SegWit to Ease Block Sizes
Amid a spike in transactions and price hike, the Bitcoin Core team has released its version 0.13.1 update. Notably, this release is the first to implement Segregated Witness transactions in the Bitcoin protocol. While controversial, SegWit is one step towards freeing up a degree of block space. Bitcoin has suffered full blocks and backlogs intermittently....
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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....
Bitcoin Core developer Pieter Wuille has released Segregated Witness causing quite a stir in the industry. Segregated witness is the first step in allowing Bitcoin to scale by fitting more transactions in the current 1MB block size limit. It brings added benefits by removing the part of each Bitcoin transaction carrying the digital signature, instead....
The discussion has been ongoing since late 2014. What is the ultimate solution to the problem of the block sizes? Hind sight is 20/20, but foresight is golden, or so it seems now that Gavin Andresen has made a commit on his personal fork of the Bitcoin Core repository that states, simply: Allows any block with a timestamp on or after 1 March 2016 00:00:00 UTC to be up to 20,000,000 bytes big (serialized). This won't come as a surprise to anyone who's been paying attention. The discussion has been widely circulated throughout the cryptocurrency space. Some users have said that a simplistic....
On Nov. 16, major Bitcoin exchange and mining pool BTCC COO Samson Mow revealed that the institution Segregated Witness (SegWit) was ready. BTCC officially started to run the SegWit client on Nov. 17, supporting the on-chain scaling solution of the Bitcoin Core development team. Cointelegraph reached out to Mow to learn more about BTCC’s stance on SegWit. He told Cointelegraph: “SegWit is great for Bitcoin. It brings more transaction throughput, fixes malleability, defrags the UTXO set, makes hardware wallets more secure and most importantly, it enables Lightning which will bring instant....
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....