Bitcoin Scaling Proposal Segwit2x Moves Ahead With Initial Code Release
Bitcoin Scaling Proposal Segwit2x Moves Ahead With Initial Code Release by Alyssa Hertig – Coin Desk
The working group behind the Segwit2x bitcoin scaling proposal has announced that the first version of its code is now ready for review and testing.
As such, the release provides the market with a first look at the technology underlying one of the most broadly supported bids to enhance the network. Announced in May as an “agreement” that united miners and startups, Segwit2x is an alternative technology roadmap to one proposed by Bitcoin Core, the network’s open-source developer group.
However, in what could be a promising sign, Segwit2x could become a moderate option that helps to avoid a contentious network split, and it looks like it could end up being somewhat compatible with an alternative proposal, the user-activated soft fork (UASF) BIP 148, which, as coded, will activate on 1st August.
The news is notable because earlier this week any compatibility between the two proposals seemed less likely – a discordance that raised fears of a split of the blockchain into two competing assets.
The development became apparent on Wednesday, when bitcoin developer James Hilliard submitted a change request, along with a code change that would reduce the time it takes for mining pools to lock in the update.
On GitHub, Hilliard said:
“This should reduce the chance of a conflict with BIP 148.”
By reducing that time, mining pools will have one (or maybe two) three-day periods in which they can lock-in a controversial code change called Segregated Witness (SegWit) by signaling support using the SegWit2x software before the UASF occurs on August 1st. Though, it’s unclear if mining pools will decide to do so.
The request was well-received, being met with several ‘ACKs’ – developer shorthand for ‘agreed’, and a sign of approval.
The alpha release of SegWit2x includes a working version of the software, which combines two changes, the scaling optimization SegWit and an increased 2MB block-size parameter.
The increase to 2MB is now scheduled for three months after SegWit activates, according to an email from BitGo CEO Mike Belshe. Prior to this, it’s been less clear (even to some SegWit2x participants) when the 2MB hard fork would take place.
“Segwit2x development has been moving quickly according to plan, and the project is in good shape,” Belshe said, in the message to the working group.