Announcement about Bitcoin Deposit process related to Soft Fork issue on July 23, 2017

@kenhuday | Through this press release, Bitcoin would like to make official statements regarding the upcoming soft fork issue in the Bitcoin network.

We hereby announce that:

1. Two days ago, miners have agreed to optimize the Blockchain Bitcoin network through BIP 91 consensus. This optimization is done by activating SegWit (Segregated Witness), which will increase the capacity of Bitcoin transactions to be about 2-4 times larger than before. This optimization also aims to solve one of the weaknesses of the Bitcoin network, specifically known as 'transaction malleability.

2. This SegWit activation process is expected to occur on the morning of July 23, 2017 (WIB) and it is likely to result in the disruption of Bitcoin transactions for several minutes or several hours. Several minutes before the activation process, there is a possibility where the confirmation numbers that are being displayed by wallets or blockchain explorers will be slightly inaccurate.

3. In order to avoid deposit errors caused by the chance of glitch happening in this Bitcoin network, Bitcoin will extend the waiting period of Bitcoin Deposit to six confirmations (about 60 minutes). For comparison, previously we only needed one confirmation for every deposit.

This change will take effect for 24 hours straight starting from 23 July 2017 00:00 to 24 July 2017 00:00. On July 24th 2017, your deposit will be processed normally where we only have to wait for one confirmation.