Bitcoin global development community this weekend will be held in the new Scaling Bitcoin meeting

Bitcoin global development community this weekend will be held in the new Scaling Bitcoin meeting

Bitcoin global development community this weekend will be held in a new phase of the ScalingBitcoin meeting. The focus of the conference is some urgent problems related to the development of the network, for example, to solve the congestion problem by expansion block.

ScalingBitcoin began in 2015, aimed at resolving the expansion and intensification of contradictions, expand the user base. This weekend the ScalingBitcoin conference will also focus on the issue of expansion, including isolation verification (SegWit). Since its inception, vigorously pursued isolation verification by the community, but also the focus of hot debate.

This meeting will not launch any important updates. However, bitcoin developer said isolation verification activation code downloads and conference brought huge test. It also represents the isolation and verification from the official release one step closer.

But before the release, developers must test its potential vulnerabilities.

BitcoinCore developer EricLombrozo said, they must be careful to ensure isolation verification and other updates (such as newly released software compatibility etc.).

At present, we are adjusting a network.

BitcoinCore developer BryanBishop added:

A problem which is how to verify the isolation faced with dense block compatible.

The dense block successfully deployed in August this year. When the mutual communication between nodes, dense block can help nodes faster and more efficient data transmission.

In addition to wait patiently, we should also be issued for isolation verification excited. Because after the release of the code, can make bitcoin transactions doubled, and is likely to solve all kinds of disputes involving bitcoin expansion.

Not only can the rapid increase of network isolation and verification of transaction processing, but also for the future potential expansion project development foundation.

Isolation verification can solve the transaction scalability problem (transactionmalleability). This problem has been solved, lightning network (LightningNetwork) can also be deployed successfully.

Then, before the long-awaited expansion code came into effect exactly what needs to be done?

Come into effect

The August release of the BitcoinCore0.13.0 includes the first isolation verification code, but not formally activated.

According to Core developers, to 0.13.1 when released, you can download the isolation verification code. Whether to show their support for the scheme of bitcoin miners can pass the way and then update the client.

BitcoinCore wrote in the official website, isolation verification code will start in the “lock”. If 2016 blocks before (about two weeks of trading volume) with the new code for broadcasting, then two weeks later (after that another 2016 blocks), isolation verification code can formally enter into force.

Core recently said in a blog:

Isolation of all nodes authentication code required to run the miners consensus on a new round of isolation verification rules.

Lombrozo said, Core developers hope that the relevant process can be as fast as some. Because after about two to three months, another important bitcoin update check sequence (CheckSequenceVerify, CSV) is proved to be activated.

Profound influence

Isolation verification change affects the entire bitcoin ecosystem.

Bitcoin this user oriented world has begun to prepare for it, a wallet supplier plans to update the code to achieve compatibility. Core developers said they are actively and these enterprises cooperation, ensure the smooth deployment of the code.

But in the activation code before the wallet vendor can actually do not do what. The person in charge of BitGo BenedictChan think this situation and the first philosophical problem of the chicken or the egg like.

Chan is expected to update the isolation verification takes about five weeks.

The five week is not a long time is not too short. So we will be in the specific activation date out after considering whether to update.

Core developers have suggested user code after activation to wait a few weeks to upgrade. This can be a hundred percent sure the whole network of the vast majority of people are in favor of the new rules about isolation verification.

Lombrozo think this is a flexible process. Because the wallet can choose to upgrade at the appropriate time. But if they wait too long, you might not benefit from the.

The best of “popular”?

However, there are still not too optimistic about this update.

BitcoinClassic organizer JonathanToomim declared support for large block in the last ScalingBitcoin. He still had doubts about the isolation verification, think it can not restore the user interest in bitcoin.

When asked if there is any way to change his views on isolation verification, he still insisted, said he is more optimistic about the other block chain platform, such as ETH and Zcash.

Toomim said that in any case he had not changed his views.

Isolation verification limits the development of bitcoin, waste developer time, also let the currency competition take market share.

I think the verification results in the expansion is not isolated, and it’s too late.

If other people do not agree, but also depends on the specific situation after verification of active isolation.

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