Bitcoin Core Developer: Activate Segwit First, Then Work on Bigger Blocks

Bitcoin Core developer Eric Lombrozo recently announced that he is willing to support the execution of a 2MB block size hard fork if the Bitcoin Core development team’s Segregated WItness (Segwit) is activated first.

Lombrozo stated:

“I will happily support a block size increase HF as long as Segwit activation is not held hostage to it.”

Over the past two weeks, Lombrozo has been collaborating with developers, experts and industry leaders to make progress in scaling bitcoin. On May 27, Lombrozo publicly stated that he will closely collaborate with Barry Silbert and the Digital Currency Group to make DCG’s initiative a success.

The initiative Lombrozo mentioned was the consensus among 58 companies that represent 83.3 percent of hashing power and 20.5 million bitcoin wallets to activate Segwit first at a 80 percent threshold then work towards executing a 2MB had fork six months thereafter.

One criticism of the agreement by Bitcoin Core developers including Greg Maxwell was that a new Segwit proposal can’t be deployed unless the previous proposal with 95 percent activation threshold expires. Matt Corallo also stated that the September timeline of Segwit activation proposed by the Bitcoin Scaling Agreement led by DCG is highly unrealistic.

Currently, Lombrozo is encouraging an unconditional activation of Segwit and after it, work towards a 2MB hard fork that is non-contentious and secure. Lombrozo emphasized that the 2MB hard fork has to be “publicly discussed before any sort of commitment” and that it must pass an extensive peer review process to ensure that the hard fork execution can be handled in a safe and secure manner.

“But first, barring any sincere technical concern, I support unconditional activation of Segwit by whatever means,” said Lombrozo.

Prior to the disclosure of the Bitcoin Scaling Agreement by DCG, bitcoin scaling talks were at an impasse. Developers were against the previous Hong Kong agreement to increase bitcoin block size by 2MB and voiced their support for Segwit activation. A large part of the community began to ask for a user-activated soft fork and miners demanded a hard fork block size increase or permanent removal of bitcoin’s block size cap.

Users and businesses have been suffering because recommended fees surpass $2 and some exchanges including Kraken have started to charge a withdrawal fee of over $7. Although bitcoin’s mempool has significantly decreased in size, bitcoin transaction fees have been increasing at a rapid rate.

Previously, Barry Silbert announced that there has been a big progress in the Bitcoin Scaling Agreement and bitcoin will likely scale soon. Adam Back, who has been in support of any progress and collaboration to solve bitcoin’s scaling issues, stated:

“Any solution needs to involve working together. Bitcoin progress needs calm, collaboration and acknowledgement of both sides of tradeoffs.”

  • Can someone explain me why miners do not like segwit?

    • Daniel Brown

      Because those certain miners are using ASIC Boost, which gives them an unfair advantage over the rest of the mining community. ASIC Boost is not compatible with SegWit and would therefore cause them to lose their advantage.

    • Jihan Wu has a covert modification on his mining rigs called Asic Boost, which makes them 20% more profitable. This will be null and void when Segwit is activated. He is holding Bitcoin users hostage and douchebag Roger Ver is helping him.

  • Midi

    Nice article. We need this fixed now! But i am impressed that the developers dont buckle and make hasty decisions under such pressure

  • Dn. Alfred

    To me a block size increase seems far less risky than changing how transactions are being broadcast through the network. Even after SegWit a block size increase will be necessary, so why not do them both at the same time?