Author: Luke Dashjr 2017-06-19 19:26:22
Published on: 2017-06-19T19:26:22+00:00
Bitcoin Knots, a Bitcoin software implementation, is taking measures to ease the transition to BIP148 and minimize risks in case miners choose to perform a chain split attack. They will be using the temporary service bit (1) to signal readiness for Segregated Witness (SegWit), which is a proposed protocol upgrade to increase Bitcoin's block size limit. The use of service bit (1) means that nodes running Bitcoin Knots version 0.14.2 or later will only accept blocks that signal readiness for SegWit. This will help ensure that the network does not split into two different chains.The proposed protocol upgrade, SegWit, has been controversial in the Bitcoin community, with some supporting it as a necessary step for Bitcoin's scalability and others opposing it due to concerns over centralization and the potential for SegWit to pave the way for further changes that could harm the decentralization of the network. Despite this controversy, many Bitcoin businesses and users have signaled their support for SegWit by activating the BIP91 proposal, which provides a path for miners to activate SegWit without causing a chain split.Bitcoin Knots' decision to use the service bit (1) to signal readiness for SegWit is seen as a positive step towards ensuring a smooth transition to the proposed protocol upgrade. It also serves as a reminder to other Bitcoin software implementations to take similar measures to prevent a chain split and maintain the integrity of the Bitcoin network.
Updated on: 2023-06-12T02:47:40.089949+00:00