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Wednesday, May 31, 2017

Bitcoin SegWit Activation August 1: New Bitcoin Improvement Protocol

Bitcoin SegWit Activation August 1: New Bitcoin Improvement Protocol

A new Bitcoin improvement protocol (BIP) has surfaced from the Core mailing list which includes Barry Silbert’s scaling solution.

The yet unnumbered BIP proposes a user-activated soft fork (UASF) August 1, as was included in BIP148, with a two-megabyte hard fork locking in six months later.

“This proposal is written under the assumption that the signatories to the Consensus 2017 Scaling Agreement[1] are genuinely committed to the terms of the agreement and intend to enact the updates described therein,” the introduction to the mailing reads.

Silbert’s proposal for ending the scaling deadlock had faced mounting criticism due to the closed nature of the discussions and its nature as a “compromise” rather than a full-fledged solution.

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