Friday, July 21, 2017

BIP 91 Locks In: What This Means for Bitcoin and Why It's Not Scaled Yet

BIP 91 Locks In: What This Means for Bitcoin and Why It

BIP 91 has officially locked in.


At press time, bitcoin's miners, the network of computer operators that secure the blockchain, have now been signaling that they will upgrade the code for 269 blocks in the same signaling period, a move that takes the software one step closer to changing its structure to accommodate more transactions.


Stepping back, the move finds miners agreeing to cement the first part of a larger effort to upgrade bitcoin, called Segwit2x.


The controversial proposal seeks to change the transaction structure of the network via Segregated Witness, and increase a cap on the amount of data that can be stored in transaction blocks, a move tentatively scheduled for later this fall.


Full story at http://bit.ly/2tliqPk


Source: CoinDesk


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