Rumour has it that Bitcoin Miners finally agreed to integrate SegWit for Bitcoin within the next 3 months!
This could be a huge development for Bitcoin as well as the whole cryptocurrency world!
Nothing has been confirmed yet, but several sources reported in the last few hours that Bitcoin Miners might have finally come to a conclusion.
What is SegWit and why is it important?
The Bitcoin network is currently overloaded - it's getting more and more popular, so the network has to deal with more transactions than it was built for. Currently, it can mange 7 transactions per second.
Due to this capacity overload, some transactions are currently taking too long to be confirmed.
This is where SegWit comes in: SegWit stands for segregated witness.
It's a process which reduces the size of blocks on a blockchain, by removing signature data from the transactions.
Therefore, there is additional capacity on the blockchain for more transactions and confirmations can be completed quicker.
The Rumours
There have been several rumours about the Bitcoin SegWit activation and a 2MB block size in the last couple of hours.
A post on reddit showed a screenshot of Charlie Shrem supposedly hinting about the update in a Telegram group, telling people that there were big, segwit-related news and that people should buy bitcoin now.
Whether this conversation is real would still have to be confirmed.
CoinDesk's huge Consensus 2017 Conference has just kicked off in New York City today, and supposedly some Bitcoin Miners met up yesterday to discuss the SegWit activation.
Jihan Wu and Barry Silbert supposedly also confirmed the integration of SegWit into Bitcoin.
Entrepreneur Alistair Milne tweeted that a meeting organized by Silbert at Consensus produced what “may conclude the Bitcoin scaling debate (for now).”
You can read more about the Bitcoin SegWit activation in this and this bitcointalk thread.
According to these sources, SegWit could be activated within the next 3 months - or even earlier!
Rumour has it that an official announcement will follow tomorrow.
This would mean that the Bitcoin price could make a huge jump tomorrow, but eventually other Altcoin prices may drop as all eyes are on Bitcoin.
What's your opinion on this? Will the SegWit-BTC-Activation happen sooner than we think ?!
Sources: 1, 2, 3, 4, 5, 6, 7, 8
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