70 Percent of the Bitcoin Hashrate Begins Signaling Segwit2x

On June 16 the alpha code for the scaling solution Segwit2x was released to the public following a large number of mining pools having vocally supported the plan.

Since then a large majority of miners who back the Segwit2x roadmap have started signaling with their hashrate.

A few days ago Bitcoin.com reported on the many Chinese mining companies who have agreed to back the Segwit2x protocol.

70 Percent of the Bitcoin Hashrate Begins Signaling Segwit2x The current percentage of blocks signaling Segwit2x according to Blockchain.

What Will Happen If Segwit2x Reaches Consensus? 70 Percent of the Bitcoin Hashrate Begins Signaling Segwit2x The organizer of Segwit2x, Barry Silbert, has been tweeting about the protocols progress daily.

Essentially if enough hashrate continues to support Segwit2x and reaches 80 percent over a 336 block signaling period that will lock in Segregated Witness.

The protocol will then activate after another 336 blocks later for those running Segwit2x implementations.

Exactly 12,960 blocks after Segwit activates on the Segwit2x clients, the Segwit2x 2MB hardfork will automatically activate on any/all nodes that are still running Segwit2x at that time.

The Possibility of a 4MB Increase and 8,000 to 10,000 Transactions Per Block On forums and social media, there are quite a bit of people within the bitcoin community on both sides of the debate who agree with the Segwit2x plan.

The protocol is nearly identical to Core's 0.14.1 client with some minor changes for signaling Segwit2x and the following activation of a soft fork and hard fork across the network.

NOTE !! This text was summarized
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