Tag: Segregated Witness

SegWit Adoption Surpasses 7%, Bitcoin Is Scaling at a Rapid Rate

The percentage of Segregated Witness (SegWit)-enabled bitcoin transactions has surpassed the seven percent mark, as SegWit continues to scale the bitcoin network drastically beyond the capability of a 2MB block size increase. According to various bitcoin data providers including Blockchain.info, the average bitcoin block size has been at around 0.9MB and the size of the bitcoin mempool, the holding area for unconfirmed transactions, has been below 12 million bytes for …
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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 …
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Trezor, Microsoft & Many Bitcoin Businesses Show Support For UASF and Segwit

Trezor and many other bitcoin businesses including CoinGate, Coinomi, Abra, Bitfury, BitPay, Coinkite, Microsoft, Samourai Wallet, Vaultoro and Blockonomics have demonstrated their support for user-activated soft fork (UASF). UASF, a mechanism in which a soft fork is initiated and activated with the consensus of full nodes by a specified date, was first introduced as a part of Bitcoin Improvement Proposal (BIP) 148 authored by Shaolin Fry. The intent behind the …
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Bitcoin Core Developer Lays Out Scalability Roadmap Based on Segregated Witness (Segwit)

With the decline of Bitcoin Unlimited, the support rate for the Bitcoin Core development team’s Segregated Witness (Segwit) is rapidly increasing in terms of hashrate and node count. To a bitcoin user’s request to clarify the team’s roadmap of Bitcoin Scaling in an online community, Bitcoin Core developer Luke Jr laid out various plans for the community to be aware of. No Block Size is Needed as of Now and …
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