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New Bitcoin Code Will Finally Boast Full SegWit Support by contentjunkie

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· @contentjunkie ·
$10.20
New Bitcoin Code Will Finally Boast Full SegWit Support
<center>https://media.coindesk.com/uploads/2018/02/shutterstock_571476511-e1519053329414-860x430.jpg</center>

From Coindesk
<hr>
<blockquote>
Segregated Witness (SegWit) is special.

And it's not just because the bitcoin code change is focused on scaling the network (it is), or that it paves the way for a new layer for the tech that's potentially faster and cheaper (it does).

Finally activated last August after months of controversy, SegWit is now spurring developers to put together a more structured, "themed" release for the software, an unusual development for the team behind the world's oldest and most valuable cryptocurrency network.

Most of the time when Bitcoin Core introduces new changes to the cryptocurrency's code, the loose group of volunteer developers simply combine disparate optimizations together. But this coming code release, 0.16.0, the sixteenth "major release" since bitcoin began, is a bit different.

Set to launch in the coming days, the updates all revolve around SegWit - with most focusing on making it easier to send SegWit-style transactions from the software's default wallet.

So, while the first software rollout of SegWit was about making sure the network understood the new rules, 0.16.0 is all about making it possible for users to take advantage of their benefits.

Bitcoin Core contributor Andrew Chow told CoinDesk:

"The primary change is the addition of SegWit in the wallet. This lets users to easily create SegWit addresses."
</blockquote>
Read more: https://www.coindesk.com/bitcoins-new-code-will-finally-boast-full-segwit-support/

<hr>

This shows that it may take a while but Bitcoin can evolve and adapt. It looks like the Bitcoin approach is a longer term thought process than that of Bcash.  I have no doubt Bitcoin will be around for centuries to come and will change again.

<h4>Leave your thoughts in the comments below.</h4>

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vote details (97)
@chrisdsteemsport ·
Quit good, Thanks and God bless you for this great info
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@godofbit ·
Bitcoin needs to step up and make a few changes just to keep up with all the new coins out there, also to stay on top of the market place. Thanks for the info!
👍  
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vote details (1)
@grisotti ·
$0.02
Despite the fact that the introduction of SegWit technology is much slower than planned, and the share of segwit-transactions for several months does not exceed 10-12%, it does not stand still. Recently about support SegWit announced peer-to-peer platform LocalBitcoins, and in early January about the release of the wallet with the integration SegWit said BTC.com. Of the major cryptocurrency exchanges Segwit support Bitstamp and us unit Bitflyer, and soon it may appear on Coinbase.
First of all, the widespread introduction of SegWit stops the unwillingness of the main client of the network - Bitcoin Core, where segwit-addresses can be used only with the help of RAW-transactions, as well as manually create and specify the delivery address, that is, each platform should Refine the client independently.
The Core development team has finally taken care of this issue, and full SegWit support will be included in the upcoming release of the new version of Bitcoin Core 0.16.
According to the latest release schedule, work on version 0.16.0 is scheduled to be completed by may 1, 2018. In addition to other optimizations of the bitcoin network, it is expected that the new version is focused on the solution of the scaling problem, today the most important of the problems of bitcoin.
Curator Jonas schnelli accompanied the news with the selection of Bitcoin Core statistics for 2017, which includes almost 1,200 mixed requests for inclusion of the code and 3,277 confirmation records from 713 participants.
From the persistently high cost of transaction fees, bitcoin users are asleep of the industry requests for improved network scale through the integration of SegWit. However, many well - known cryptocurrency companies still ignore SegWit, preferring other functions-first of all, probably because of the above technical difficulties. But after the inclusion of the necessary code in the new release of Bitcoin Core, the integration of SegWit can finally be completed by the middle of the year - almost a year after activation.
👍  ,
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@hafez ·
bitcoin is one of the biggest opportunities since the invention of the internet itself.... great times to be around....
👍  ,
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@marcuswahl ·
I wasn’t happy to hear about long transaction times and high cost with bit coin but I think it will overcome it eventually
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@mrashik ·
Your posts always amaze me.
Every time i see your post, i always feel happy and happy.
👍  
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@sonofsatoshi ·
If there is something good that we can get from a market correction, it is that the developers are more eager to work full time in order to improve the technology behind Bitcoin. I hope the progress continues to draw more investors into the crypto world.
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