Categories: Comparison

SegWit2MB vs BIP148

If there is one thing the bitcoin industry has no shortage of, it has to be the different scaling solutions. While most people focus on Bitcoin Unlimited and Segregated Witness, it is important to note other solutions are available as well. SegWit2MB, for example, is quite an intriguing concept. Additionally, there is the BIP148 solution, which is well worth considering.

2. BIP148

Most bitcoin enthusiasts have heard of the BIP148 solution before, albeit they will often refer to it as the user-activated soft fork. This particular solution puts the power of activating Segregated Witness into the hands of all bitcoin community members, rather than just the miners.  Considering how the large Chinese mining pools actively block SegWit, a different path of activation may be needed in the end.

The BIP148 implementation is mainly designed for community members to support Segregated Witness if they feel it is the best way to go. Anyone in the world can create a full bitcoin node and signal for BIP148. As more nodes support this solution, the chances of increasing the user-activated soft fork gradually increases. It remains to be seen if BIP148 will ever activate, though.

It is important to note the BIP148 proposal is not something planned by the Bitcoin Core developers. Moreover, this proposal is not designed to split the network into, unlike Bitcoin Unlimited. Consensus changes in the bitcoin world are often frowned upon, albeit it appears support for BIP148 is growing. So far, no binaries for bitcoin nodes have been released, though.

Related Post

1. SegWit2MB

It is evident the majority of bitcoin scaling solutions revolve around activating Segregated Witness. That is not surprising, as SegWit will pave the way for the Lightning Network in the future. SegWit2MB is a hybrid alternative solution that aims to compromise between SegWit and an immediate block size increase.  To some people, this solution sounds pretty strange, as SegWit will effectively bring a block size increase to the network as well.

To be more specific, SegWit2MB will increase the bitcoin block size to two megabytes only if SegWit activates on the network. However, the block size increase will be enforced as a hard fork. It did not take long for people to voice their concerns about this proposal, as SegWit2MB would require at least six months of code reviewing.

On the other hand, there are others who support the proposal. Erik Voorhees seems to lean towards SegWit2MB, a suit would get SegWit activated faster. Moreover, it would increase a short-term block size increase, effectively nullifying any issues created by Bitcoin Unlimited. It would be a good solution to end the political debate surrounding bitcoin scaling, in Voorhees’ opinion. Then again, a hard fork

is always cause for concern, even when it gets SegWit activated faster.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

50 mins ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

1 hour ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

2 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

2 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

6 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

7 hours ago