What you need know about BIP 91 and how Bitcoin split is avoided

in #bitcoin • 7 years ago

Last few days we have noticed the turmoil in crypto currencies. One of the reason of this volatility or more precisely downward movement caused by the uncertainty of upcoming update of Bitcoin. Bitcoin is undoubtedly the master of crypto currencies. Any sort of uncertainity in bitcoin is a hit for all other coins.

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In order to scalability of bitcoin, a proposal put forward by Bitmain engineer named James Hilliard. It is called Bitcoin Improvement Proposal 91 or BIP 91 in short got a high attention in bitcoin community.

BIP 91 proposes an alternative route to implement Segregated Witness (SegWit). BIP 91 also offers a way to implement BIP 141 without any sort of redeployment. BIP 91 follows the same process as BIP 141 with the following tweaks.

  • Miners can signal for BIP 91 using ‘bit 4’ instead of bit 1.
  • BIP 91 only needs 80% of hash power support as instead of 95% needed for BIP 141
  • The activation block count is set to 336 instead of 2016 blocks .

Miners were signaling 97 percent locking in the BIP 91 solution, as well as Segregated Witness (SegWit). BIP 91 offers a working solution to the scaling issue. Due to the rumor on the high chance of coin split incident, the Bitcoin market showed some serious volatility.

#steem #crypto #cyrptocurrency #hardfork
7 years ago in #bitcoin by
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     7 years ago 

    bro what u advise daily how many time we can used the @booster service ? need to some delay in time of posts ?

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     7 years ago 

    This post has received a 19.74 % upvote from @booster thanks to: @codebreaker.

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       7 years ago 

      Investors need to understand that their money can go far in crypto... btc is just the gateway drug and should only be used to be traded for other alts. if btc wants to split let it split but people should not run back to fiat but understand there is more opportunities here in the crypto world! This article is great and explains what can be done to avoid and currently the hardfork is up in the air and not 100% due to BIP

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