Author: Ryan Grant 2017-06-11 05:48:39
Published on: 2017-06-11T05:48:39+00:00
BIP149 activation on November 16th may cause a problem for some users of Bitcoin. The BIP149 is a proposal that allows nodes to activate Segregated Witness (SegWit) with a soft fork. This would require miners to signal their readiness for the upgrade by November 15th, and if enough do so, the activation would occur on November 16th.While this activation would improve the scalability and security of the Bitcoin network, it could also cause issues for users who are not prepared for the changes. Some wallets and exchanges may not be compatible with SegWit addresses, which could result in lost funds or transactions being rejected.Additionally, some users may not have upgraded their nodes to support SegWit, which could result in them being unable to validate transactions or participate in the network after the activation. It is recommended that users ensure their wallets and exchanges are compatible with SegWit and upgrade their nodes as soon as possible to avoid any potential issues.It should be noted that there is some debate within the Bitcoin community about the best way to activate SegWit, and some believe that BIP148 (a different proposal) would be a better option. However, BIP149 has gained significant support and is expected to proceed as planned.
Updated on: 2023-05-20T02:30:40.523495+00:00