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Title: what is segwit?? Post by: karan1498 on July 15, 2017, 02:59:01 PM Hello everyone , got to know about this segwit thing that is to be implemented on btc and is out of my understanding .
if anyone can make me understand in simple words pleaseee . is it anything to worry about? Title: Re: what is segwit?? Post by: jaideep1000 on July 15, 2017, 03:59:26 PM Basically its stands for segregated witness.
Its a kind of update to the bitcoin protocol. Basically we're making more space in each block of the btc blockchain so that more transactions can be processed in a block. If you noticed while bitcoin was at its peak a month or so ago, transactions were becoming slow to confirm and the transaction fees were becoming large. Segwit basically solves this(to some extent) and makes bitcoin more scalable. I could go more technical if you want more info. Also most of the nodes are running segwit so it is very likely that it will activate by Aug 1st(thats the proposed deadling). And we will see a large bull run in the market if everything goes well. Title: Re: what is segwit?? Post by: karan1498 on July 16, 2017, 05:59:38 AM Basically its stands for segregated witness. Its a kind of update to the bitcoin protocol. Basically we're making more space in each block of the btc blockchain so that more transactions can be processed in a block. If you noticed while bitcoin was at its peak a month or so ago, transactions were becoming slow to confirm and the transaction fees were becoming large. Segwit basically solves this(to some extent) and makes bitcoin more scalable. I could go more technical if you want more info. Also most of the nodes are running segwit so it is very likely that it will activate by Aug 1st(thats the proposed deadling). And we will see a large bull run in the market if everything goes well. i know upto this , i wanna know its depth . can you go little more deep? Title: Re: what is segwit?? Post by: kabit9 on July 21, 2017, 07:50:30 AM Hello everyone , got to know about this segwit thing that is to be implemented on btc and is out of my understanding . if anyone can make me understand in simple words pleaseee . is it anything to worry about? i know upto this , i wanna know its depth . can you go little more deep? why don't you make an effort and read up on the internet yourself, instead of asking unsusupecting forum members to spoonfeed you. https://i.imgflip.com/gpyjk.jpg another totally pointless thread (racked up by karan1498) Title: Re: what is segwit?? Post by: SulemanSamf on July 21, 2017, 07:26:48 PM Now a days I also see this word segwit in many places were discussion of bitcoins take place you have explained it.
But still I'm getting confused. About it And can anyone explain me about what is going to happen after July. Thanks |
