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BIP 148 : Bitcoin Improvement Proposal

Bip 148, Segwit, What is BIP, What is Segwit

Designed by its authors as a means to “motivate miners to report Segwit” and to overcome the constraints of the BIP 9, the BIP 148 presents itself as a soft fork “activated by users” By the nodes of the network and the exchanges. Since the Segwit blocks are recognized by all miners , the idea of ?the UASF  is to activate the soft fork SW on August 1, 2017, whatever its level of adoption and consequently . Not to relay at this time the blocks “non Segwit” in order to force the recalcitrant miners .

 While the proposal may seem sympathetic on paper, there are few experts to support it: “The UASF is populism applied to the BIP. It sounds like “night standing”, it looks revolutionary, it makes “power to the people”, it seems to be THE magic solution … like brexit. “– Angst, CTO of Digital Service.

(Also Read: What is SegWit?)

For super resistant, who created an installation tutorial, the BIP 148 must be considered primarily as a Bitcoin Core-independent response to the centralization of mining and Bitcoin Unlimited – another proposal that would like to impose itself without the consensus of the community if it manages to gather more than 50% of the hashrate:

“A few years ago, when I pointed to the centralization of the manufacturers of ASIC and mining, I was told that this was not a problem ! That would not happen because the technology would quickly reach a plateau and the ASIC chips would become accessible to all. There would be more manufacturers and miners on every continent. Of course, this has not happened and nothing has ever been done to restrict this centralization which, over time, has led to the emergence of a power that threatens consensus. When I arrived in the Bitcoin, we could all mince with his PC or an FPGA even if it did not bring much, the pools approaching 50% of hashrate were DDoS, and the big mining farms fired. Where has passed Bitcoin’s survival instinct and the dream of decentralization, I wonder? On one side BU wants to turn the Bitcoin into a network VISA bis to pay his starbucks, on the other Bitcoin Core in his bubble masturbates on the code. Even if UASF is a lost battle, it is the only means of expression for users who have been sold dream, an alternative banking system without a master where everyone can participate. It can make you laugh today but at the time you believed it. “

 A point of view that does not seem to offend Vivien Brunot, consultant blockchain at PwC France: “Many supporters of BU are happy that there is UASF, it allows to reveal that one of the main arguments anti-BU, The risk of “split”, was a smoke screen. The fact that this can get a big part of the pro-Segwit out of the Bitcoin chain is also not to displease them. “

(Also Read: SegWit 2x gains support from Chinese Miners)

 Nicolas Bacca, CTO of Ledger, returns back to back the two proposals: “UASF is as stupid as”Emergent Consensus “. The main difference being the “payload” in this case. Segwit in one case and BLOCK BLOCKS  in the other. Both split the network if everyone does not play the game, and you have no way of knowing who is playing the game, so it’s Russian roulette. “

 Feeling shared by Arthur Bouquet for whom the UASF is “nothing more than a forced fork by a part of the network, much like Bitcoin Unlimited […]. The main problem is that to impose rules it is better to be quite numerous otherwise we are going to meet serious problems … basically a soft or a hard fork is just as dangerous and there is a risk of “split “More or less important in both cases. The difference between UASF and BU is just that one is more risky than the other. In case BU there is “split” if users or minors do not update because they will not see the fork and will ignore it. So it is absolutely necessary that everyone updates. In the UASF case, if users do not update it is not “severe” because the blocks remain valid and Bitcoin continues to work, however minors could cause a split by mining blocks valid for some and invalid for d ‘other. Conclusion: without “true” consensus, both are risky and the “do nothing” remains the best option. “

KryptoMoney.com posts latest news and updates about Bitcoin, Cryptocurrencies and Blockchain.

This article was contributed by author Bhargavi Sayee.

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