15 Facts about the Bitcoin Fork on 1st August 2017

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15 Facts about the Bitcoin Fork on 1st August 2017
17 July 2017 / Applancer Team / No Comments / 0 Likes

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15 Facts about the Bitcoin Fork on 1st August 2017
15 Facts about the Bitcoin Fork on 1st August 2017:

Bitcoin's greatest problem is the scalability. Since it has a limited block size of 1 MB, completion of Bitcoin transactions requires almost 10 minutes and allows only 4 or 5 transactions in a second. So improve these typical problems, two most popular scaling techniques are available. They are the SegWit2x and the BIP 148. A UASF (User Activated Soft Fork) is going to be introduced into the Bitcoin blockchain. From August 1, BIP 148 nodes will reject any Bitcoin blocks that do not signal support for Segregated Witness via BIP 9 which complies every Bitcoin user to transfer to the new fork for avoiding the risks. THere are many advantages for this. But a group of the community is still opposing the idea. This may lead to a chain split too.

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