08 Aug '17, 8am

SegWit's Likely Lock-In: What Today's Milestone Means for Bitcoin

Barring unlikely interruptions, the scaling proposal called Segregated Witness (SegWit) is expected to lock-in on the bitcoin network today. Should enough miners continue signaling support , SegWit is projected to meet the necessary threshold later this afternoon (around block 479,708). And while it's theoretically possible miners could change their minds, it's unlikely they will – in short, miners have a huge financial incentive to enforce the change. At that point, bitcoin will be one step closer to changing how some nodes on the $50 billion network store data, potentially paving the way for more exciting, forward-looking technologies, such as the top-level Lightning Network and other in-development advances . But even with the change locked-in, bitcoin won't upgrade overnight for two reasons: Because of SegWit's two-week "grace period," the change won't "activate" until...

Full article: https://www.coindesk.com/segwits-likely-lock-todays-miles...

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