BIP 91 activation has taken place in the Bitcoin network, but the activation of Segregated Witness is still in question.
BIP 91 activation complete
Bitcoin BIP 91 officially took place on the night of Friday, July 21, when more than 90% of the network hash signalled in support of this decision.
The next step is to activate Segregated Witness (SegWit), in addition, in theory, there is no need to activate BIP 148 (UASF), and the key date on August 1 also loses its relevance.
However, as noted by observers, the activation of SegWit still can not be considered guaranteed.
Modified BTC1
Recall, BIP 91 is a modified version of the plan BTC1 (SegWit2x), which supported a number of Bitcoin-companies and mining pools, in May of this year signed under the relevant agreement in New York. In addition, BIP 91 is compatible with BIP 148 ( UASF ), another proposal to activate the original SegWit offer, described in due time in BIP 141.
To fix BIP 91, it was necessary for the miners to signal support for this solution through the fourth signal bit (bit 4) during the strictly designated time period (56 hours). And provided that 269 of the last 336 blocks include bit 4, BIP 91 is committed. That's exactly what happened on Friday night.
However, now that the second activation period of the BIP 91 has come , the miners must start using the first signal bit (bit 1). Blocks without such a bit will be rejected, that is, they will not fall into the general block.
Meanwhile, the community reacted positively to the fixation of BIP 91, which was confirmed by the rapid price increase of Bitcoin prices on Friday night. The weighted average of our beloved crypto reached $ 2900 according to coinmarketcap.com
Lets hope their isn't too much volatility ahead for Bitcoin to affect the price of Steem.
It's not even Friday night yet dude....you a fortune teller???
thanks for info man!
Great news! So there is no need to worry about August 1st Bitcoin fork! Liked the update. Upvoted!!
Things are looking positive so far @bprasad :)
Yes I was keeping my eyes glued to that screen pretty much the entire day. Luckily I bought my first bitcoin (I've had a few altcoins but no bitcoin) in the morning here when it was around 2300... over the next few hours I saw it jump, and then bragged to my mom I made $400 yesterday. I am such a nerd, but whatever :D
Short term pain, long term gain ahead @jobsande :)
Ready for lots gains after Aug 1st :))
you mean even more than yesterday?!! #fingerscrossed