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83% Hash power consensus on Segwit + 2 MB plan

in bitcoin •  last year

Key points from the announcement: https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77

May 23, 2017
We agree to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the original Segwit2Mb proposal:

  • Activate Segregated Witness at an 80% threshold, signaling at bit 4
  • Activate a 2 MB hard fork within six months

The group of signed companies represents a critical mass of the bitcoin ecosystem. As of May 23, this group represents:

  • 56 companies located in 21 countries
  • 83.28% of hashing power
  • 5.1 billion USD monthly on chain transaction volume
  • 20.5 million bitcoin wallets

I'm hoping this will be great for all cryptos. We'll see how Core responds to this compromise.

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From the list of the companies in agreement, it doesn't look like Core is on board. This demonstrates miners are taking steps toward a consensus.

Given the plan is based off of a previous proposal, hopefully this will give credibility for Core to get on board. It's likely we won't see progress immediately, but there's going to be a lot of hype in the coming weeks!

Hold onto your hats everyone!

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Interesting
I will follow you to see your future posts!