Support SegWit2x

Minimum consensus Segwit2x

Segwit2x was presented in May by a consortium of miners as well as numerous companies and service providers from the Bitcoin scene - a kind of minimum consensus to finally end the tiresome dispute. The software for this is based on the core client and was programmed under the leadership of the former core developer Jeff Garzik.

As I said, GDP 91 is only a first step towards this change. As soon as it becomes active on July 23, the BIP-91 compatible nodes will reject mined blocks that do not set the signal bit for SegWit. If everything goes well and the clear majority of miners have signaled their support long enough (2016 blocks), BIP 141 alias Segwit could be armed in mid-August. After another two weeks, it would then become active.

If this Segwit introduction is successful, it would be a soft fork, i.e. also compatible with older user clients. Around three months later, the block size is to be increased in the form of a hard fork. This change would then no longer be backwards compatible and in the worst case could lead to a split in the blockchain.

Can you manage one, two, many bitcoins?

Whether this seemingly cumbersome procedure actually works is still in the stars. Doubts and criticism are already being voiced. And Bitcoin would not be Bitcoin if contrary proposals were not also on the table. BIP 91 is supposed to make another proposal obsolete that might have split Bitcoin at the beginning of August: BIP 148. The so-called User-Activated Soft Fork (UASF) should also implement the Segwit changes, but if necessary without waiting for a majority vote from the miners .

A group of Chinese miners has also announced a fork called Bitcoin Cash, with larger blocks and without Segwit. It remains to be seen whether there will still be one or soon several split-off Bitcoins with protocols that are no longer compatible. (axk)

Read comments (366) Go to homepage
Ad ad