It's official: Segwit will be activated on Bitcoin soon

It's official! The proposed improvement of the Bitcoin code, called "Segregated Witness (SegWit)", has reached its lock-in limit.

The scalability update discussed long ago reached the threshold needed to be "fixed" today in block 479707 with 100% bitcoin mining pools signaling support for the proposal. According to data from the network, the block was extracted by BitClub.

But the change will not be officially fixed until tomorrow, once the signaling period has ended.

In addition, the change will be unusable for now as the network will go through a "grace period" of approximately two weeks to give users and mining platforms the chance to upgrade their software. After this period, which seems to end on August 21, SegWit will be permanently activated and miners will start rejecting blocks that do not support the change.

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First proposed by Bitcoin Core developer Pieter Wuille in December 2015, the expectation for SegWit is that it will open up many ways to scale bitcoin to support more users. Although this does not seem particularly controversial, it has been the subject of indefatigable debate within the bitcoin community.

Other communities such as Litecoin were able to activate it a few months ago and this has made the market react, making Litecoin's price more than double.

Today, SegWit is already guaranteed for Bitcoin. We will enter a new era.

FONTE: guiadobitcoin

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