Bitcoin Core to Get SegWit Soon, Still a Long Way to Go for Implementation

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The Bitcoin protocol may soon expect few changes to happen for good. Segregated Witness, also known as SegWit, which happens to be one of the scalability solutions is finally ready for release.

The Bitcoin Core development team has reportedly fixed most of the issues related to SegWit v 0.13.1 software package. The latest version is almost ready to go live in its current state by Monday. However, it may take at least a year for it to be implemented as it still needs to garner support from 95 percent of the mining community.

bitcoin segwit

bitcoin segwit

The SegWit protocol is expected to increase the efficiency of the Bitcoin protocol by reducing the time taken to calculate the transaction hash for verifying transactions. It is achieved by separating malleable parts of the transactions from the transaction hash; thus, effectively reducing the number of calculations to be made by the Bitcoin network for verification. The implementation of SegWit is also expected to further strengthen the Bitcoin protocol by preventing malleability attacks.

Successful implementation of Segregated Witness will also accelerate the development and implementation of much awaited Lightning Network. The

Read more ... source: NewsBTC USA

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