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Friday, July 21, 2017

Bitcoin Price Breaks $2,600 As SegWit Nearly Finalized, $3,000 In Sight

Bitcoin Price Breaks $2,600 As SegWit Nearly Finalized, $3,000 In Sight

Within a 24-hour period, Bitcoin price increased from $2,300 to $2,600, recording a staggering 13 percent surge in value.

Earlier this week, miners began to signal for Bitcoin Improvement Proposal BIP 91, a kludge between the original Segregated Witness (SegWit) proposal and the Digital Currency Group-led SegWit2x, also known as the Silbert accord.

Despite its short timeline that may cause difficulties for developers resulting from technical instability, BIP 91 was the last chance for miners and the Bitcoin community to avoid a network split, which would have led to the creation of two Bitcoin Blockchains or Bitcoins.

In contrast to user-activated soft fork, BIP 91 is a miner-activated soft fork, which will activate SegWit, a transaction malleability fix and scaling solution developed by the Bitcoin Core development team at an 80 percent activation threshold, as listed on the SegWit2x proposal.

Full story at

Source: CoinTelegraph

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