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

Post a Comment

Popular posts from this blog

Police Bust Alleged $13 Million Crypto Pyramid Scheme

Police in China's northwestern city of Xi'An have arrested the founders of a claimed nationwide cryptocurrency pyramid scheme that allegedly amassed 86 million yuan ($13 million) from over 13,000 people. According to a report  from local media source Huashang News, Wednesday, the scheme launched in March 28 this year after months in preparation by a primary suspect who has has the surname Zheng, as well as three other accomplices. The report cited an investigation from the police who said the scheme used a cryptocurrency called Da Tang Coin (DTC) that is linked to DTC Holding  - a firm under the suspect's control and registered in Hong Kong - to allegedly hoax potential members of the pyramid scheme. In various promotional events in multiple cities in the country, the scheme claimed that new members can make 80,000 yuan (roughly $13,000) per day with an initial investment of $480,000 to purchase the DBTC at $0.50 per token, according to the report. These promises of
Post a Comment
Read more

Duncan Logan just tweeted that he's on board Electroneum

I have been a buyer and holder of bitcoin and Etherreum for a long time but this will be the first ICO I buy into--Duncan Logan. What is Electroneum? Electroneum (ETN) is a cryptocurrency that can be mined with a smartphone, requiring almost no technical knowledge or prior experience. This sets it apart from other cryptocurrencies (like Bitcoin) which require expensive hardware and technical know-how to mine. Electroneum’s unique mobile mining experience allows anyone with a smartphone to earn ETN coins by letting the miner app run in the background. It was designed specifically with mobile users in mind, thereby appealing to a potential market of 2.2 billion smartphone users around the world. Unlike other cryptocurrencies, Electroneum has a user-friendly, beginner-oriented interface that allows users to seamlessly transfer ETN coins between one another, check their balances, and mine coins. Being a  cryptocurrency , Electroneum is created, held, and spent electronically, and h
Post a Comment
Read more

How to spend your Bitcoin and Ethereum in South Africa

As Bitcoin and Ethereum gain popularity among investors, an increasing number of users are creating cryptocurrency wallets. The wallets are either hosted through an online provider or stored on the user’s hardware. From these wallets, cryptocurrency owners can make transactions on a blockchain, interact with exchanges and other users, and in the case of the Ethereum blockchain, programme autonomous contracts. Sending cryptocurrency through the blockchain is quick and easy, but using cryptocurrency in lieu of fiat currency is still limited. South African stores and services are slower to adopt cryptocurrencies than more developed countries, but users can still buy products locally with Bitcoin or Ethereum. Stores There is a growing list of stores in South Africa which accept Bitcoin as a payment option – many of which offer the option by allowing users to pay with  PayFast . PayFast has partnered with South African Bitcoin exchange Luno to provide users with a way to pay
Post a Comment
Read more