Cryptocurrency News / 24 August 2017 / Segregated Witness Activates on Bitcoin's Blockchain
The Segregated Witness (SegWit) soft fork has activated on the Bitcoin network. As of block height 481,824, found at 1:57 UTC by BTCC, all SegWit- ready nodes started enforcing the new SegWit consensus rules. The SegWit activation means that Bitcoin’s block size limit is replaced by a block “weight” limit, which allows for blocks to increase to up to 4 megabytes in size. Additionally, and perhaps more importantly, SegWit transactions won’t suffer from the “malleability bug,” which in turn enables advanced second-layer protocols like the Lightning Network, Atomic Swaps, MAST, and more.
Currently sitting at $4184, the BTC price has reached an all time high for the day of $4,250, with over $365 M worth of BTC exchanged in the USD markets in the last 24 hours.