Bitfury Mines a Block Signalling User-Activated SegWit Soft Fork
Bitfury is reported is to have mined a block supporting the BIP 148 proposal, effectively signalling a user-activated softfork (UASF) for SegWit. As the debate surrounding bitcoin’s block size continues, many are moving in various directions supporting the one they believe holds the answer to bitcoin’s future scaling. Recently, Bitcoin Unlimited (BU), had around 40 percent support despite reports saying that BU is controversial, splitting the community in two with those for and against it. A few weeks ago, though, an alias named Shaolin Fry introduced the idea of SegWit UASF, which would....
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Litecoin creator Charlie Lee has appealed to the community to push through a user-activated soft fork (UASF). Lee: Alleged Bitmain Interference ‘Sad If True’. Litecoin, which last week came within 5% of the required miner support to activate Segregated Witness (SegWit), appeared to fall short over the weekend, something Lee put down to interference from anti-SegWit parties. “Sad if true,” he commented on Twitter about a suggestion from UASF code creator shaolinfry that Bitmain miner co-founder Jihan Wu was deliberately preventing Litecoin’s SegWit activation. Wu is a vocal opponent of....
Segregated Witness (Segwit), proposed as a solution to bitcoin’s block size debate, is 99% a full proposal, a development that hasn’t occurred without some controversy. Many expect Segwit to increase the volume of transactions without altering the block size. The change will ultimately be triggered with a soft fork, in which the majority of the nodes have to update to make the change compatible with older software versions. The method by which the proposal has been advanced has been called political by some, including Vitalik Buterin, co-founder of Ethereum. Segwit’s Benefits. Unlike other....
Segregated Witness (SegWit), the Bitcoin protocol upgrade proposed by the Bitcoin Core development team, was originally designed to activate via the Bitcoin Improvement Protocol 9 (BIP 9) standard, a hash-power signalling mechanism. This would allow the Bitcoin ecosystem to coordinate the upgrade relatively safely through miner readiness. But with the SegWit proposal in particular, BIP 9 no longer serves just to signal readiness. Miners as well as users increasingly see BIP 9 as a sort of miner vote on the desirability of the protocol upgrade. And some miners even seem to utilize it as a....
“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 clearly stated analysis and opinion blog post about the costs and benefits of doing either a hard fork to a 2 MB block size limit versus going with the “Hong Kong Compromise” Segregated Witness (Segwit) upgrade, Sam Cole offers the perspective from that of a Bitcoin miner in what options lie ahead. From a pragmatic perspective, Cole gives a very clear explanation of how the Segwit solution is the much safer, simpler and easier one and all of the potential risks of failure and negative disruption that the hard fork has. However, it’s clear from Cole’s post that he believes there’s....