Segwit2x Working Group Announces Hard Fork Roadmap
Segregated Witness has locked-in and the Segwit2x working group has announced its roadmap for the next three months. The team of developers have detailed they are going forward with the 2MB block size increase that miners and businesses agreed upon at the New York Agreement. Also read: Gold Bug Peter Schiff Says ‘Cryptocurrency Market Signals […]
Segregated Witness has locked-in and the Segwit2x working group has announced its roadmap for the next three months. The team of developers have detailed they are going forward with the 2MB block size increase that miners and businesses agreed upon at the New York Agreement.
The Segwit2x Roadmap
It’s been over 24-hours since Segregated Witness (Segwit) locked-in on the Bitcoin network after nearly 90 percent of miners pushed the protocol activation forward. Now the Segwit2x working group member Jean-Pierre Rupp revealed the team’s plans for the upcoming 2MB hard fork. The announcement called “Bitcoin Upgrade at Block 494,784,” states;
During the month of November 2017, approximately 90 days after the activation of Segregated Witnesses in the Bitcoin blockchain, a block between 1MB and 2MB in size will be generated by Bitcoin miners in a move to increase network capacity. At this point, it is expected that more than 90% of the computational capacity that secures the Bitcoin network will carry on mining on top of this large block.
‘Compatibility With the New Larger Blocks’
The announcement explains the upgrade to 2MB was first discussed at the ‘Hong Kong Roundtable Agreement’, and had further solidified at the ‘New York Agreement’ (NYA) this year at the Consensus conference. Both agreements involved implementing Segwit first and a block size increase from 1MB to 2MB later. The working group says, now that Segwit has locked-in, the ecosystem should update to Segwit-compatible software if they want to benefit from the protocol. Alongside this, the announcement explains “readiness” preparation for the fork including port changes, network changes, DNS seeds, and the Segwit2x “Testnet5.”
“The November 2017 upgrade to 2MB blocks is a hard-fork, but necessary changes are trivial to perform,” explains the Segwit2x working group’s announcement. “Some SPV clients are expected to work without any change at all. Most clients will need to tweak only two constants to remain compatible with the new larger blocks.”
Segwit Is Here but the Bitcoin ‘Community’ Infighting Remains
As the plan moves forward many developers and bitcoin community figures have been quarreling over the proposed upgrade. Moreover, last week developer Matt Corallo introduced an idea that would further separate the Core reference client away from Segwit2x.
The infighting and attempt to disconnect Core software 0.15.0 further solidifies people’s theories that the cryptocurrency community could see a third bitcoin. A vast majority of bitcoiners are discussing this subject fervently and come November the Bitcoin network may see some fireworks again.
What do you think about Segwit2x going forward? Do you think we will see a 2MB block size increase on the Bitcoin network? Let us know your thoughts in the comments below.
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