Bitcoin Is Splitting Once Again - Are You Ready?

in #crypto7 years ago

Whether you’re ready for it or not, it’s going to happen. We will witness another Bitcoin hard fork in three months. This time it will be backed by the technical team that proposed Segwit2x. Leading the pact is Bitcoinj developer Jean-Pierre Rupp, who filed an announcement to increase the block size to 2 MB and continues to work on SegWit2x. According to Jeff Garzik, Bloq founder and Segwit2x developer, the proposal has received ‘general approval’ from Segwit2x members. On the other hand we have Bitcoin Core developers who remain adamant in opposition to SegWit2x and have already said that the upcoming Bitcoin Core client 0.15.0 will automatically disconnect nodes supporting the SegWit2x fork.The Segwit2x working group has announced the roadmap for the next three months. The team plans to let Bitcoin miners choose to run new software at block 494,784 on the blockchain. This block is expected to occur sometime in November. The announcement, called “Bitcoin Upgrade at Block 494,784,” states: “During the month of November 2017, approximately 90 days after the activation of Segregated Witnesses in the Bitcoin blockchain, a block between 1 MB and 2 MB in size will be generated by Bitcoin miners in a move to increase network capacity. At this point it is expected that more than 90 percent of the computational capacity that secures the Bitcoin network will carry on mining on top of this large block.” If this proposal goes through as planned, SegWit2x could lead to another Bitcoin hard fork, potentially creating yet another version of Bitcoin. The SegWit2x plan could also drastically fail if the team is unable to get miners’ support. It remains to be seen how many miners are willing to dedicate their computational power to yet another Blockchain.

The author of the article   Anupam Varshney    https://cointelegraph.com/authors/anupam_varshney

Read more   https://cointelegraph.com/news/bitcoin-is-splitting-once-again-are-you-ready

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Although you quoted the source of the article, I disagree with this kind of copy/paste. Please only quote some paragraphs of an article and then add your own inside.

Also, what lets you think, that the original article is CC-BY? I did not find any hint for that on the original site.

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