Why Aren't Bitcoin Businesses Talking About SegWit?
By most accounts, the activation of Segregated Witness (SegWit) should be a boon for bitcoin. The code has been introduced to the network, and at least 20% of bitcoin's hashing power is now signalling support for the software change. First proposed last December, SegWit is expected to provide the first significant boost in capacity to the bitcoin blockchain in its near-decade-long history. While the mechanics of its rollout ensure that its implementation is not a forgone conclusion, to the technical community, SegWit is seen as a significant technical milestone. As described by....
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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. ...
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....
The Bitcoin price run to $2,200 could be a result of SegWit activation coming to Bitcoin sooner than September 2017. On May 21 in New York, Bitcoin miners have reached an agreement to go for SegWit, according to miners sources. It has marked a good start to the important Consensus conference that united important movers and shakers of the crypto industry. Charlie Shrem’s messages in the Whalepoolbtc Telegram chat states that there was “big news” coming from the Consensus conference, and that members should “Buy BTC.” “When I have all the details I will tell you, it's still all being....
"It's contingent upon SegWit." Lightning Labs developer Joseph Poon is talking about bitcoin's Lightning Network, the top-layer network that could potentially boost bitcoin's transaction capacity to millions of transactions per second, but the same can be said of most of the other technical improvements for the network presented at Construct 2017, CoinDesk's inaugural San Francisco developer conference. In many presentations, it seemed as if moving forward with the project, a more than $15bn economic network that sprang from only open-source code, is wholly dependent on SegWit.....
Litecoin creator Charlie Lee believes that the price of the digital currency could reach $14 when SegWit is activated on the network. On Saturday, F2Pool mined Segregated Witness (SegWit) blocks for both Bitcoin and Litecoin. Charlie Lee tweeted that he sees a 72.34 percent chance of another pool signaling for SegWit in the next seven days. He equates the estimated prices to the level of signaling the network has received thus far: 20 percent => $4, 60 percent => $9, 100 percent => $14. There are indications the network will activate SegWit soon. It creates excitement - even in....