What is SegWit2x and how could it affect Bitcoin?
A majority of miners has started showing their preference for SegWit2x, a version of Segregated Witness that’s deviating from what Core developers envision to be the solution to bitcoin’s scaling issue. But what is it and what’s leading bitcoin to it?
In a recent blog post, Bitmain (the largest mining equipment manufacturer) detailed how their vision for a decentralized and widely accepted bitcoin doesn’t see it continuing to have 1MB blocks and high fees.
The SegWit2MB proposal states:
-Activate Segregated Witness at an 80% threshold, signaling at bit 4
-Activate a 2MB hard fork within six months
The proposal states is that the SegWit2x hard fork is only set to lock in if the event that the overwhelming majority of miners approve of it, but we might see a soft fork activation of SegWit sooner than expected. Thankfully, most bitcoin nodes are upgraded to versions post 0.12 and hence ready for SegWit.
Text source/ read more: https://www.crypto-news.net/what-is-segwit2x-and-how-could-it-affect-bitcoin/?utm_source=pushengage&utm_medium=push_notification&utm_campaign=pushengage
Picture source: http://www.altcointoday.com/segwit2x-is-winning-the-chicken-game/
Interesting, thanks for sharing.
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