Now it is almost official: Segregated Witness (SegWit) has reached the long-awaited login threshold of many users. 100% of the Bitcoin Mining pools have given a SegWit signal and pave the way for activation in the activation period of 20 and with a required majority of at least 95%.
The activation was sealed with block 479.707. The block itself is said to have mined the mining pool BitClub. The singalization period ends however only tomorrow and then the login is 100% officially.
With SegWit, however, SegWit does not enter into force and will not have any effect on the network, since the so-called “Grace Period” (Gnadenfrist), which gives the miners and users the opportunity to access the new software upgrade. As soon as this deadline elapses, presumably on 21 August, the Miners will block all blocks that are not SegWit with block 481.824.
Segregated Witness is a scaling proposal, which was presented by Bitcoin developer Pieter Wuille in 2015 as part of the steadily growing network overload. As the number of users increases, the Bitcoin network is increasingly reaching its limits. The result is slow transaction times and increased bitcoin transcripts.
It was only in April of this year that SegWit was activated in the Litecoin protocol.
The Bitcoin News
TheBitcoinNews.com – leading Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.
TheBitcoinNews.com is is not responsible for the content of external sites and feeds. Guest posts, articles or PRs are not always flagged as this!