Bitcoin expansion finally reached an agreement in September or will implement the expansion plan

Bitcoin expansion finally reached an agreement in September or will implement the expansion plan


The United States on May 23rd, in the 2017 consensus conference, 56 digital currency companies from 21 countries around the world have reached a consensus on the bitcoin expansion problem. Affected by this, some parts of the world bitcoin price highs above $2300.

According to the agreement, the SegWit plan in September and the existing SegWit activation, final activation date for November 19, 2017. Therefore, the implementation of specific time is uncertain.

Unlike the bitcoin consensus conference held earlier that the signing of the agreement protocol enterprise covers most of the core group of the bitcoin network in ecosystem. As shortly before the news, their original “SegWit+2Mb” expansion solution will be taken as follows: SegWit activation threshold is set to 80%, and bit4 as the signal transmission mode; performing hard bifurcation in 6 months, will be expanded to 2Mb block size.

The isolation of witness 2MB bifurcation means bitcoin blockchain congestion will be alleviated, bitcoin transfers can be confirmed.

A consensus is reached, the price of bitcoin reproduction waves. As of May 24th, about 9:30, Bitfinex bitcoin price up to $2310, equivalent to about 15922 yuan; bitcoin trading network bitcoin prices exceeded 15000 yuan integer points, up to 15500 yuan. So far, the domestic bitcoin prices doubled again, nearly 30 days has risen 115%.

Insiders said that the bitcoin rose from the domestic market is not long but the sentiment of speculators, mainly from overseas investors, the domestic bitcoin price gap becomes larger, the domestic bitcoin bitcoin prices become the world the value of depression, resulting in compensatory growth market.

The sources said, after the removal of regulatory intervention, the lever, the collection of fees, restrain speculation. Although the domestic bitcoin prices hit a record high, investors will high, but trading volume lower than before a lot, that speculation is suppressed effectively. RMB bitcoin transactions accounted for 11.9% of global ranking third.

In recent years, the solution of the problem has been bitcoin expansion in suspense, hard for the whole community should direct bifurcation solutions of chain expansion or using SegWit soft branching program is divided into two camps. The former believe that soft bifurcation for bitcoin scalability is an ineffective solution, but will introduce technical agreement to more debt, the latter that The loss outweighs the gain., hard to split before and after compatibility, implementation is difficult, and it is easy to cause the bitcoin network division, formed two chains, for the value of bitcoin will cause devastating effects.

Obviously, between the two sides under dispute is not conducive to the current transaction. Today is the most important thing is the community to reach a consensus and establish a unified expansion program, this is also the main purpose of the 2017 consensus conference.

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