Segregated Witness: Protocol change is to make Bitcoin more powerful

BitsPlan

The Bitcoin community is currently required to vote on a change to the protocol of crypto-nutrition. The amendment called “Segregated Witness” is intended to help resolve the highly controversial issues of how more blocks of data can be processed in the data blocks of the distributed accounting file Blockchain to make the system more efficient.

If 95 percent of the bitcoin miners signal approval over a period of about two weeks (2016 blocks in the blockchain), the change should come into force and be armed within another two weeks. The activation parameters required for approval are implemented in version 0.13.1 of the reference client Core. Approval is indicated by a modified header in the block that the miner has generated. This reconciliation procedure may seem cumbersome, but a fundamental change in the protocol can not be dictated “from above down” in a decentralized system such as Bitcoin. A majority vote is required.

The size of the data blocks in the blockchain is set to 1 megabyte in Bitcoin – and the change is not to be shaken at this limit either. Rather, the transaction data under the limit should be segregated with Segregated Witness. The cryptographic signatures that prove that a transaction

Read more ... source: TheBitcoinNews

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