SegWit's Likely Lock-In: What Today's Milestone Means for Bitcoin

Except for incomplete obstructions, Schigger's witness Schigregred witness (SegWit) is expected to lock into Bitcoin network today.

Should sufficient support for mining signals continue, SegwayTV is proposed to meet the requirements at the required rate after this sale (after 479,708 blocks) requirements. And when it can theoretically possible change their minds, it is unlikely that they will be - short, mining change regulations have a huge monetary incentive.

At that time, Bitcoin will move one step further to change some nodes about $ 50 billion in network store data, potentially more exciting, forward-looking technologies such as high level lighter networks and other in-development advances.

But even with the change lock, Bitcoin will not be upgraded overnight due to two reasons:

The change will not be "active" until 481,824 blocks due to SegWit's "Important Period", which is now in the context of the August 21 incident.
Lock-in ensures that the Siegewight will become part of the network, Bitcoin services will still need to upgrade their software for new structure transactions.
Enter a grace period

SegWit is the key idea behind the grace period - it allows miners to upgrade their software so they can change into unity. So, when it may seem like another delay, it's actually an essential step.

After these two weeks, SegWit will be created to support their software upgrade to block those new rules made by miners. This means that those who have upgraded mine will be at risk of losing their rewards (about $ 42,000), since their canals will be rejected by another mining

At the time of activation, however, it is not yet clear how much time it takes to change the code environment and how much it will accept by the user, the supplier, exchange and other necessary network infrastructure.

Several services are already one of the earliest, most used wallets to support SegWit, block bitcoin startups, as well as major Bitcoin exchange Kraken and LocalBitcoins.

However, some significant voice arguments argue that no bigger embrace can take much bigger than the cost involved in SegWit. Above all, this debate remains a topic.

Importance in lock-in

In addition, it is one of the few SegWit-related deadline, to pass recently, the significance of this particular milestone should not be reduced - lock-in is a step that will actually connect segweights to the network.

For example, SegWit will be reached at this level of support. The idea can be seen as a breath of fresh air for many. Regardless of the critics' critics, it seems to be clear that SegWit enjoys extensive support (although its exact formulation of legislative proposals is different).

In this light, today may be best seen as a turning point for network development.

Most significantly it ensures that any type of scaling technology will be added to the network, without creating a whole new block.

And its lawful might go a long way toward encouraging other progress, to show the willingness to change Bitcoin, but with caution

Recommended in 2015, and users started to run at the end of last year, SegWit has taken just half of a year to go from production to concept.