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May 27, 2017, 02:11:56 AM |
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Bitcoin Core Dev Meets Digital Currency Group; Will Segwit Activate Soon?
Although there has been some criticisms toward the Bitcoin Scaling Agreement presented by Digital Currency Group and 56 other companies that represent approximately 83.3 percent of the network’s hashing power as reported by CCN, the industry has learned two important takeaways from the aftermath of the agreement: majority support for Segregated Witness (Segwit) and the necessity of consulting the Bitcoin Core development team for accurate projections and plans.
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One major criticism toward the Bitcoin Scaling Agreement was the unrealistic deadline proposed by the 57 companies and miners. According to Bitcoin Core developer Greg Maxwell, Segwit as proposed on the Bitcoin Scaling Agreement can’t be activated by September with a changed activation threshold.
On December 21, 2015, Bitcoin Core developers Pieter Wuille and Eric Lombrozo, along with Johnson Lau authored Bitcoin Improvement Proposal (BIP) 141, introducing Segwit as a soft fork. Segwit’s initial activation threshold was set at 95 percent and designed to timeout or expire at midnight of November 15, 2017.
In a statement, Maxwell explained that in order for Segwit with an 80 percent activation threshold to be activated, the current proposal of Segwit has to timeout or expire, meaning that the industry and mining community would have to wait until November 15 to newly execute Segwit with a different activation threshold.
read more:https://www.cryptocoinsnews.com/bitcoin-core-dev-dcg-segwit-activate-soon/
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