Skip to main content

Bitcoin's Miners Signal for Segwit2x Scaling Proposal Early

Bitcoin's miners weren't expected to start signaling for the controversial scaling proposal Segwit2x until July 21, but some are already moving to show support in advance of another round of software testing.
As of today, about 43% of bitcoin's mining power is signaling for the change, including AntPool, BitClub, Bixin, BTC.com and BitFury – and other mining pools may be on the way. Slush Pool, which oversees about 5% of the hashrate, said that it will soon signal as well. As of now, there is no way to tell which are running the code.
Still, all miners need to do to lock-in the update is signal support for the change via a code proposal called BIP91. If a total of 80% of miners do so within the next 336 blocks, a period of about two days, the long-proposed code change Segregated Witness will lock-in.
While surprising, the move is likely due to a perceived need to upgrade the protocol to support SegWit before August 1.
That's when BIP148's user-activated soft fork kicks in, a change that could lead bitcoin to split into two competing assets if not enough of the ecosystem supports SegWit.
Mining pools are setting a piece of code in each block that they mine to signal for Segwit2x, though it remains unclear what the state of the code is after a test release was delayed Friday. (Users can check to see how many mining pools are signaling for BIP91 here.)
For more news follow the link below.

Comments

Popular posts from this blog

Bitcoin in Africa: Insights from the Continent’s Biggest Bitcoin Exchange

Isn’t it absurd that nearly 326 million people representing 80% of the adult population in Africa do not have access to bank accounts? This wretched situation denies countless of people financial freedom in the so-called dark continent. Bureaucratic tenors and economic exclusion inter alia have paved the way for the current phenomenon. Last year a study of 10 African nations with unusual inflationary ratio had South Sudan registering an unimaginable inflation rate of 295 percent. Egypt had the slightest with 12.30 percent. African governments continue to plunder the riches of the African people through Inflation. This makes it considerably insurmountable for individuals to conserve their resources. Moreover, public sector borrowing has crowded out the efficient private sector that can put credit to good use. The IMF estimates that averagely credit to the private sector is estimated at 30 percent of GDP in Sub-Sahara Africa. CCN spoke to Werner van Rooyen, Head of Business Develo...

How Blockchain Could Help Tech Giant Cisco Reboot

Cisco is changing. The technology firm best known as the supplier of enterprise computer hardware has seen a slow, steady decline in revenue from some of its core products. As a result of an increasing number technological services being virtualized, and the storage of information moving to the cloud, the $158bn firm has been  restructuring  and exploring new ways to capitalize on connected devices. But amidst this change in identity, it's in identity itself where some of the California-based company's most interesting new experiments are taking place. With a series of early stage blockchain  projects , Cisco is now pushing even deeper into what could end up being much more than a way for employees to prove who they are across subsidiaries. In conversation with CoinDesk, Robert Greenfield IV, Cisco software engineer and executive team lead of the firm's Connected Black Professionals resource group, explained how several blockchain projects have evolv...

WANT TO BUY BITCOIN IN SOUTH AFRICA , KENYA, UGANDA, NIGERIA, GHANA OR OTHER COUNTRIES IN AFRICA? SIMPLE.

With the growing awareness around Africa of bitcoin as a crypto-currency, a means of remittance and a creator of  wealth, more and more people in more and more countries are looking to buy it, and asking how and where they can buy it. Purchasing bitcoin is simple. Simply go online and do a search for “Buying and selling bitcoin in South Africa ““Buying and selling bitcoin in Kenya “Buying and selling bitcoin in Uganda ““Buying and selling bitcoin in Nigeria “ or  “Buying and selling bitcoin in Ghana“ – you get the idea.   To help you though:   In South Africa, three of the most common (and trusted) platforms are: www.localbitcoins.com www.luno.com www.bitx.co In Kenya, the most common (and trusted) platforms) are: www.localbitcoins.com www.bitpesa.co whilst other platforms include: www.altcoins.io www.99bitcoins.com In Uganda, the most common (and trusted) platforms) are: www.localbitcoins.com www.bitpesa.co whilst other platforms incl...