Author: Peter Todd 2018-01-30 07:22:55
Published on: 2018-01-30T07:22:55+00:00
On January 30, 2018, CANNON via bitcoin-dev forwarded a message regarding the NIST 8202 Blockchain Technology Overview. Dylan Yaga of Fed responded to concerns raised by many people, including CANNON, about section 8.1.2. Yaga sent the revised section to further comment and full transparency approach on the editing of this section. Section 8.1.2 is about Bitcoin Cash (BCH). In 2017, users adopted Segregated Witness (SegWit) which was an improvement proposal where transactions were split into two segments: transactional data and signature data through a soft fork. This made it possible to store transactional data in a more compact form while maintaining backwards compatibility. However, developers of Bitcoin Cash had different opinions on how Bitcoin should evolve and developed a hard fork of the Bitcoin blockchain titled Bitcoin Cash. Instead of implementing the SegWit changes, the developers simply increased the blocksize. When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.Peter Todd noted that segwit is primarily a blocksize increase rather than transaction size optimization. It would be good to get it corrected.
Updated on: 2023-06-13T00:18:47.654241+00:00