Friday, July 21, 2017

The Bitcoin Scaling Countdown: Miners Begin Running Segwit2x Software

The Bitcoin Scaling Countdown: Miners Begin Running Segwit2x Software

As the price of bitcoin dropped to new lows this weekend, some bitcoin proponents were patiently waiting for the promised BTC1 software. Now it seems in a short period of time the bitcoin ‘community’ may see the protocol Segregated Witness (Segwit) activated as the mining community has begun to signal BIP91. The proposal BIP91 is a combination of Segwit2x and BIP148. The version 1.14.4 code has been pushed to the repository by the Segwit2x working group, and a few mining pools have already started running the protocol. The China-based Bitmain technologies announced their support via Twitter by stating;


"All of our bitcoin mining pools will start running the new Segwit2x software today"


Other mining pools signaling and mining BIP91 blocks include Bixin, Antpool, BTC.com, Bitfury, and Bitclub so far. Now spectators are waiting for other pools like BTCC, F2pool, Slush, and a few others to join. Back in June Bitcoin.com reported on how a vast majority of the hashrate was signaling their initial support for Segwit2x. Miners running the new BTC1 software and currently signaling BIP91 means that if enough hashrate reaches over 80 percent and continues for a 336 block period, Segwit will “lock in”. If all is successful, this will then lead to another 336 block period that will activate the Segwit protocol on the main chain.


Full story at http://bit.ly/2tcbR1y


Source: Bitcoin News


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