SegWit is Now Locked-In – Two Weeks Grace Underway

Blockchain, FinTech, Innovation, News | August 9, 2017 By:

Segregated Witness has now officially been locked into the legacy bitcoin (BTC) blockchain. The software scaling upgrade reportedly reached its necessary threshhold indicating a willingness to activate yesterday at block 479,707, and all bitcoin mining pools have now signaled support.

There’s still a road to travel, though. The legacy bitcoin network now has a two-week period where everyone has a chance to upgrade their software to accommodate SegWit, a process that will end around Aug. 21. At that point, miners will reject blocks that don’t support SegWit.

The lock-in and the split-off of Bitcoin Cash earlier this month into its own fork laid to rest a long-debated issue among developers on individual block size in the legacy bitcoin blockchain.