Segwit & Bitcoin Forking - Dates for your Diary!

in #bitcoin3 years ago

If you’re vested in crypto the next few weeks are going to keep you on the edge of your seat!

Well just to make sure you don’t miss out here are some very important dates for your diary!

July 21 — Segwit2x is due to be released and presumably all participants to the New York Agreement will run it. The miners currently signaling “NYA” in their coinbase transactions, or about 87% of the last 24 hours’ worth of blocks, are a good estimate of blocks that will mine using Segwit2x.

July 23 — BIP91 should lock in (requires 80% of 336 blocks to signal)

July 26 — BIP91 should activate. At this point, all blocks are required to signal for Segwit (BIP141) or they will be orphaned off the network.

Around July 26–27 — This is also around when we can expect a new difficulty adjustment period to begin. The last one as of this writing was June 17 and they typically take 12–14 days (closer to 13 since new hardware comes online constantly). So June 30 (block 473760), July 13 (block 475776) and July 26 (block 477792) seem to be the next 3 difficulty adjustment period starts.

August 10 — This is around when we can expect block 479808, which is the end of the difficulty adjustment period. Very close to 100% of blocks in this difficulty adjustment period should be signaling for BIP141 (Segwit). As this is above 95%, Segwit should be locked in.

August 23 — This is around when we can expect block 481824, which is when Segwit should activate. From this block on, Segwit transactions will be legal on the network. This also sets the activation date for BIP102 on Segwit2x to block 494784 (exactly 144*90 blocks later).

November 18 — This is around when we can expect block 494784, which is when Segwit2x should hard fork to 2MB blocks.

I am trying to break down all of the important information regarding the upcoming forking into manageable chunks and separate articles.

Please follow my blog to make sure you don’t miss out on some good information!

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Thank you. Expect many more useful posts very soon.

You can also check out the timeline in image format here:

(Right click the image and say open image in new tab to view full size.)

As an alternative view, I've given my thoughts on market psychology heading into SegWit here.

Would love to hear your thoughts.

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