Now that the Bitcoin network successfully locked in the activation of SegWit, it is time to look forward. There are many features still in development as we speak. One thing’s for sure: SegWit2x is not part of the official roadmap by any means. In fact, the entire protocol is incompatible with the Bitcoin network altogether. There are plenty of other features to look forward to, though, that much is evident.
Interesting things are bound to happen in the Bitcoin world. The activation of Segregated Witness in around 9 days is only the beginning. SegWit paves the way for the Lightning Network, among other things. That layer 2 solution will make things very interesting for Bitcoin. Real-time and cheap transactions will certainly move things along nicely. However, LN is just one of the many things to look forward to on the current roadmap as it is known today. It is worth mentioning SegWit2x is not a Core roadmap plan by any means, although the last has not been said regarding that scaling solution.
SegWit2x Supporters have a Tough Decision Ahead
Other features on the list to look forward to are quite impressive Schnorr signatures, drivechains, and various other changes will all be coming in the next year or so. Schnorr signatures are of great value, to say the least. The SegWit activation allows soft forks to change the Bitcoin script language to effectively reduce the size of a transaction. The cryptographic industry is all too familiar with Schnorr signatures, as it is a simple digital signature solution which offers a high degree of security. It is efficient and leads to shorter signatures.
Drivechains, on the other hand, are something else entirely. Drivechain is a company specializing in bringing sidechains to the Bitcoin network, This means the Bitcoin blockchain can eventually be used to transmit non-financial information as well. Rather than bloating the main chain with this new information, it would be transported on a drivechain or sidechain. It is a major development to give Bitcoin technology more use cases in the future. How this will all unfold, remains to be seen.
In the end, the important thing to remember is how there will be Bitcoin hard fork in the future. At least, not where Core developers are concerned right now. SegWit2x may eventually hard fork Bitcoin itself and create its own blockchain, though. Right now, that scenario is highly unlikely. Then again, the people supporting this solution will have a tough decision to make. Either they join BTC or BCH users, or try to create their own ecosystem. An intriguing proposition, to say the least.
Header image courtesy of Shutterstock
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
