Alas, SegWit comes to Blockchain - 4 important things you should know @BlockRush

Finally SegWit is here and Bitcoin will be great again. Watch out for block 481,824 - it is the point at which SegWit will be activated in less than 24 hours.

In this report @BlockRush will explore SegWit implementation and what it could mean for Bitcoin.

1. What is SegWit?

SegWit is the software change which when applied to Bitcoin will remove some of Bitcoin's old features which are now deemed as unnecessary.

The result is that Bitcoin will be able to store more data into each block without increasing the block cap and this will make it faster, cheaper and more secure.

SegWit has nothing to do with block size increment. SegWit2x is what advocates for block cap increment after the main SegWit has been implemented.

Bitcoin Cash split was as a result of those who were against SegWit and SegWit 2x.

2. Who is behind SegWit

These days its becoming increasing important to know the identity and motives of those behind crypto-currency development as to know if the motive could be trusted or not.

SegWit is being advocated for by Bitcoin Core developers - the "guardians" of the primary code. At least we should trust them; they are not capitalists but engineers would do know what they are doing - right?

3. How will SegWit affect Bitcoin?

SegWit will transform Bitcoin and has the potential to make Bitcoin great again. Here are some of the ways SegWit will transform Bitcoin:

• remove bloated code from Bitcoin making it faster
• solve transaction malleability and make Bitcoin more secure
• decrease block size by upto 75% and make it cheaper to process
• allow for the revolutionary Lighting Network infrastructure to be implemented

Despite these change, SegWit will still make Bitcoin compatible to the the former code.

4. How will SegWit make Bitcoin great again?

By making Bitcoin transactions faster, SegWit will allow Bitcoin to be able to scale upto to support the capacity needed for expansion.

Cheaper, faster and more secure transactions would also see the return of users from alt coins and Bitcoin Cash as well increase merchant support.

The greatest good of all is that SegWit will allow the Lighting Network to be implemented on Bitcoin. As explained in our earlier post, the Lighting Network has the potential to move Bitcoin into the Bitcoin 2.0 phrase by making it possible to write DApps on Bitcoin.

Lighting Networks will also making Bitcoin capable of scaling to process billions of transactions, support instant and free transactions.

How will this affect you?

For the user SegWit means all good news:

• faster transactions speed
• lower fees
• more merchant support
• more security of your funds

When the lighting Network is implemented after SegWit, then the good news becomes:

• Decentralized applications on Bitcoin - just like Ethereum!
• Absolutely NO transaction fees
• Support for micro-payment
• INSTANT transactions

When the prices of Bitcoin fell to $3,777 earlier this week, people began to panic but @BlockRush wrote a masterpiece explain why Bitcoin will never crush. In another post we encouraged people to use the opportunity to go shopping and buy up as much Bitcoins as possible.

Now that our predictions have come true and Bitcoin is about be upgraded to make it once again superior, we do not need to repeat ourselves again:

GO BUY SOME BITCOINS WHILE YOU STILL CAN GET THEM CHEAP!!!

How well is Blockchain technology doing?

In our exclusive report, @BlockRush discusses whether or not Blockchain technology has lived upto its promise or has gone from innovation to pointless distraction. This one is a must read!

Comprehensive analysis of the five main pitfalls of Blockchain technology @BlockRush

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