Author: Jorge Timón 2017-04-01 12:33:18
Published on: 2017-04-01T12:33:18+00:00
Sergio Demian Lerner has proposed a new solution for the Bitcoin scalability problem, known as Segwit2Mb. The proposal involves increasing the block size limit to 2MB and activating the Segregated Witness soft fork at the same time. Lerner believes that this solution will provide a middle ground between the different factions within the Bitcoin community. He suggests that the hard fork activation date should be delayed to allow enough time for all active economic nodes to upgrade.Lerner argues that no more than 91% of network nodes reported by Bitnodes are active economic nodes. He also states that after developers have discussed and approved the patch, reviewed and merged it, and 95% of the hashing power has signaled for it, we can expect a similar or lower time to upgrade for a hard fork. However, he suggests that the hard-fork date could be delayed if there is a real need to do so.The primary goal of this proposal is to reunite the Bitcoin community and avoid a cryptocurrency split. Contributions to the segwit2mb project are welcomed and awaited, and improvements unrelated to a 2 Mb increase or segwit should not be part of segwit2Mb. The proposal is only a starting point, and community feedback is expected and welcomed.If Segwit2Mb locks-in before the hard fork occurs, all Bitcoin nodes should be updated to a Segwit2Mb enabled node to prevent them from being forked-away in a chain with almost no hashing-power. Lightweight (SPV) wallets should not be affected as they generally do not check the block size. The tentative lock-in and hard-fork dates are April 29th, 2017, and August 29th, 2017, respectively. The hard-fork is conditional on 95% of the hashing power approving the segwit2mb soft-fork and the segwit soft-fork being activated. However, Matt Corallo has criticized this proposal, stating that it ignores the last two years of Bitcoin hardfork research and understanding, recycling instead BIP 102 from 2015. He further suggests that adding more consensus rule changes won't make segwit any less controversial.Lerner wants to see the Lightning Network in action this year, use the non-malleability features in segwit, and see the community discussing other exciting soft-forks in the scaling roadmap. He believes in the strength of a unified Bitcoin community and invites developers to give their opinion, suggest changes, audit it, and take a stand with him to unlock the current Bitcoin deadlock.
Updated on: 2023-06-11T23:09:33.439128+00:00