These Two UASFs Could Activate SegWit on Bitcoin Network

Segregated Witness (SegWit), the Bitcoin protocol upgrade proposed by theBitcoin Core development team, was originally designed to activate via the Bitcoin Improvement Protocol 9 (BIP 9) standard, a hash-power signalling mechanism. This would allow the Bitcoin ecosystem to coordinate the upgrade relatively safely through miner readiness.

But with the SegWit proposal in particular, BIP 9 no longer serves just to signal readiness. Miners as well as users increasingly see BIP 9 as a sort of miner vote on the desirability of the protocol upgrade. And some miners even seem to utilize it as a negotiation chip for protocol development.

Leave a Reply

Your email address will not be published. Required fields are marked *