Explainer: What Is SegWit2x and What Does It Mean for Bitcoin?
Explainer: What Is SegWit2x and What Does It Mean for Bitcoin?
Jul 12, 2017 at 14:00 by Alyssa Hertig
As two proposals for boosting bitcoin’s transaction capacity approach key deadlines, one proposal, known as SegWit2x, has perhaps garnered the most attention.
The plan, first proposed in May, quickly won favor among many of bitcoin’s startups and mining pools. Yet, it has also emerged as contentious in some quarters, owing to its specific goals and technical construction.
But, what’s at the heart of the arguments for and against?
First, SegWit2x seeks to upgrade bitcoin in two ways:
It would enact the long-proposed code optimization Segregated Witness (SegWit), which alters how some data is stored on the network.
It would set a timeline for increasing the network’s block size to 2MB, up from 1MB today, to be triggered about three months after the SegWit activation.
Read more here http://www.coindesk.com/explainer-what-is-segwit2x-and-what-does-it-mean-for-bitcoin/
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