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Saturday, April 1, 2017

Bitfury Mines its First SegWit Block, Armory Says No to Bitcoin Unlimited

Bitfury Mines its First SegWit Block, Armory Says No to Bitcoin Unlimited

It seems like the Bitcoin market and industry are rejecting Bitcoin Unlimited almost unanimously for the same reason: security and decentralization. Even miners are making the move to Segregated Witness, including the world’s largest Bitcoin miner and leading Blockchain company Bitfury.

Bitfury is in support of SegWit. On March 26, Bitfury mined its first SegWit block with Bitcoin Improvement Proposal (BIP) 148 that contains the SegWit signal tag. BIP 148 is a proposal entitled “Mandatory activation of segwit deployment” released on March 12 introduced for miners as a way to signal their support for SegWit.

Shaolin Fry, the author of BIP 148, explained:

“Segwit increases the blocksize, fixes transaction malleability, and makes scripting easier to upgrade as well as bringing many other benefits. It is hoped that miners will respond to this BIP by activating Segwit early, before this BIP takes effect. Otherwise this BIP will cause the mandatory activation of the existing segwit deployment before the end of midnight November 15th 2017.”

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