New codes for SegWit 2X, a Bitcoin scaling project released on 30 June, 2017
SegWit 2x, the controversial Bitcoin scaling proposal is progressing with it’s new codes released. SegWit 2x is headed by Bloq Co-Founder, Jeff Garzik.
SegWit 2X was first inrotoduced in 2015. Since then it has been one of the most controversial Bitcoin scaling proposal.
SegWit is a process of lightening the size of transactions, which will in-turn create more space in a block. More space in Block means more the number of transaxction can be added in the block for verification
SegWit or Segregated Wtiness does this by removing the Witness ( digital signature ) from the transaction and storing it in another Block called “Extended Block”. Thus the name Segregated Witness.
Read more about SegWit .
Many Bitcoin network’s enterprises and miners appreciated the proposal. The community believes and see’s it as a better solution to the Bitcoin’s network issues in transaction delay.
Despite some opposition, this Bitcoin scaling proposal emerged as unique, bringing together some of the largest contingent companies and mining pools supporting it.
SegWit 2x Alpha Version
According to people who are involved in the project, the developers have spent two weeks for testing the Aplpha version.
The testing was carried out using a new testnet called “Testnet 5” and a faucet that removes the fake Bitcoins out of the netwkork.
The testing of Segwit 2x was witnessed ion GtHub. Purse CTO Christopher Jeffrey even identified and fixed bugs during the Alpha testing change while others shared inputs and ideas.
SegWit 2X Beta version
The Alpha version of Segwit 2x was released two weeks back. This new beta version is expected to address concerns related to previous version.
As the proposal is supported by a large number of Bitcoin mining community, the codes may quickly get accquired from the community to activate it.
Companies currently supporting SegWit 2X include
The above mentioned companies have been publicly supporting the development and testing the Bitcoin scaling proposal.
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