More Digital Currencies Activating SegWit as Bitcoin Remains in Deadlock
Blockchain projects throughout the crypto community continue to adopt the SegWit upgrade originally proposed for Bitcoin. Meanwhile, Bitcoin itself remains frozen in its 1 MB block size, with warring factions unable to reach consensus.
DigiByte Goes SegWit
During the afternoon of April 28, altcoin project DigiByte announced on Twitter that it has successfully activated SegWit on its blockchain.
— DigiByte (@DigiByteCoin) April 28, 2017
DigiByte’s SegWit activation comes less than two weeks after creator Jared Tate published a detailed blog post on why his team supported the upgrade for its project.
Created as a blockchain-based method of transferring digital files from one party to another, Tate said DigiByte’s adoption of SegWit would improve its blockchain in several ways.
By solving the transaction malleability issue present in all UTXO blockchains, Tate wrote, the upgrade can make DigiByte faster and more efficient in executing transactions. Furthermore, he continued, by adding the ability for things like Lightning Network, smart contracts and scalability, DigiByte could become a more robust ecosystem overall with SegWit.
A Growing Trend of SegWit Adoption?
DigiByte’s SegWit activation comes just two days after Litecoin locked in its own activation.
Litecoin, currently the fourth largest cryptocurrency by market capitalization, received much fanfare on April 26 when it mined the final SegWit block needed to lock in the upgrade’s implementation.
Now, the network will completely roll out the upgrade within a matter of weeks, said Litecoin creator Charlie Lee.
In January 2016, Lee published a blog post similar to Tate’s explaining why he and the rest of the Litecoin team supported SegWit. They too saw in the upgrade the potential to make Litecoin’s network more robust and reliable overall.
However, Lee added the additional hope that his show of support for the Bitcoin Core developers’ proposal would make Litecoin an example to Bitcoin’s community. By adopting SegWit, Lee said, Litecoin could lead by example and show that the upgrade was a viable option for transaction malleability and scalability.
Bitcoin Still Not Budging
Despite the growing number of Bitcoiners and altcoin enthusiasts alike showing support for SegWit, the majority of the Bitcoin world remains divided.
Bitcoin Unlimited, the scaling proposal presently fighting against the implementation of SegWit on Bitcoin, continues to tout its belief in bigger blocks and on-chain scaling.
Because of the debates between supporters of both Bitcoin Unlimited and Core, the Bitcoin network has yet to reach consensus on which upgrade is best for the technology.
And it doesn’t look like the war between Unlimited and Core will end any time soon. While many large bitcoin miners support Unlimited — with 40 percent of the world’s hash power signalling for Unlimited — Core supporters continue to hold their own in preventing Unlimited from hard forking the blockchain.
In addition to its 34.6 percent hash rate support, Core supporters have also launched numerous political attacks against Unlimited’s figureheads. In a non-stop barrage of insults and rumors surrounding Unlimited leaders Roger Ver and Jihan Wu, Core and its followers seem determined to chip away at Unlimited’s technical and political reputation.
The Unlimited camp remains steadfast, however. Even when a bug sent over 400 Unlimited nodes offline, Roger Ver remained confident in the proposal’s eventual victory. Speaking to Bitsonline, Ver pointed out that “BU has more support and more hash rate than ever before,” dismissing claims of Unlimited losing ground.
What do you think about the rise in crypto projects adopting SegWit? Share your thoughts down below.
Images via Mobe, Ariel Zambelich/Wired