SegWit Great for Bitcoin Says BTCC COO as Major Exchange Supports the Solution
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....
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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,....
Most major Bitcoin wallet service providers, exchanges and startups have either planned Segregated Witness (SegWit) support or are SegWit support ready. The Bitcoin Core development team recently updated its list of 73 Bitcoin startups that have announced their plans to support SegWit. Amongst the list was popular Bitcoin wallet service providers Blockchain.info, AirBitz, Armory, BreadWallet, Trezor, Samourai Wallet, Ledger hardware wallet, Electrum, GreenAddress, KeepKey and Mycelium. Various mining pools including Slush, Bitfury, BTCC, CGMiner and CKPool signalled SegWit support, as well....
Contrary to most claims, Segregated Witness (Segwit) doesn’t necessarily require users to manually upgrade their systems or wallets in order to receive Segwit transactions. The activation of Segwit does provide notable changes to the layer one of the bitcoin network and as a result, wallet platforms will be required to alter their applications pertaining to the changes made by Segwit to the bitcoin protocol. For users of major bitcoin wallet platforms which already are Segwit-ready such as Blockchain, Coinbase, Copay, Ledger and Keepkey, upon the activation of Segwit, they will be able to....
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,....
BTCC, a major Chinese Bitcoin exchange, recently launched a new USD-to-Bitcoin exchange. Upon its successful US debut, the company announced its support for Ethereum Classic over ETH. On July 26, the Ethereum development team completed its hard fork to protect investors against the DAO attack. Almost immediately after the hard fork execution, Ethereum Classic emerged, to maintain the original governance model of Ethereum. Leading Bitcoin exchanges, including Kraken and Bitfinex, have supported both Ethereum Classic and Ethereum since, considering large market caps of both ETC and ETH.....