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Antpool Mines Its Very first SegWit2x Block
Antpool mined its very first SegWit2x block today, signaling approval for the implementation of the SegWit scaling proposal and a hard-fork to dual the block size.
Antpool Goes SegWit
Antpool, the thickest mining pool te the Bitcoin ecosystem with overheen 14% of the global hashrate, has mined its very first SegWit2x block today, signaling approval for the ambitious scaling agreement that seeks to implement the SegWit soft fork and a subsequent hard fork to increase block size capacity to 2MB.
Bitmain, the holder of Antpool and one of the most vocal volgers of the Emergent Overeenstemming, signed the SegWit2X also known spil the Fresh York (Bitcoin Scaling) Agreement. It is also listed spil one of the companies that has committed to providing technical and engineering support to “test and support the upgrade software, spil well spil to assist companies with preparing for the upgrades.”
Albeit Antpool is signaling SegWit2x, it’s still signaling support for Emergent Overeenstemming, the scaling proposal waterput forward by the Bitcoin Unlimited development team.
The initial release for the implementation of SegWit2x took place on Friday. Antpool’s approval, along with a few other pools, has already propelled support to 65% (20% te the last 144 blocks), with the intended target being at 75%, lower than the original Bitcoin Core SegWit implementation, which required a 95% miner approval rate.
What’s SegWit2x &, Who’s Supporting It?
Officially announced on May 23rd by the Digital Currency Group and 56 other companies, the SegWit2x proposal seeks to activate the Segregated Witness update at an 80% threshold, with the agreement being supported by more than 83% of the global Bitcoin mining power. Once SegWit is activated, the agreement moves towards the implementation of an hard-fork, which would dual the Bitcoin block size three months after the SegWit soft fork.
Since the release of the alpha, numerous mining have pools have shown their support for the proposal including Antpool, BitFury, Bixin, BTC.com, BTC.top, F2Pool, and ViaBTC, which represent harshly 65% of the global hashrate.
Bitfury wasgoed the very first pool to mine a Segwit2x block on Saturday.
Other companies outside of the mining industry also support the SegWit2x agreement including Coinbase, BitPay, Jaxx, ShapeShift, Vaultoro, and many others.
Both SegWit and the hard fork will help Bitcoin’s current overcapacity issues, multiplying block capacity by four, thus reducing fees and transaction waiting times within the network.
However, reviews have varied with some vooraanstaand figures te the blockchain space criticizing the agreement due to its rushed timeframe, which gives no slagroom for testing and poses numerous dangers like the possibility of replay attacks seen during the ETH/ETC chain split.
Antpool &, Segwit
Albeit some see Bitmain and the Antpool mining pool spil one of the main impediments for the SegWit activation, it’s not exactly surprising to see Bitmain support this agreement, given that it conforms with the requirements of the Hong Kong agreement, which wasgoed never implemented. Created te 2016, the agreement also sought to implement SegWit and a 2x block size increase.
Tho’ the Hong Kong agreement wasgoed never implemented, Antpool seems interested te upholding it, despite refusing to support the SegWit BIP and signaling for the Emergent Overeenstemming proposal instead.
Bitmain has published a blog postbode dubbed “UAHF: A contingency project against UASF (BIP148)” ter which the company takes a stance against the User-Activated Soft Fork, a proposal that aims for Bitcoin knot users to activate Segregated Witness by force by rejecting any non-SegWit blocks.
Will the Segwit2x Agreement be implemented successfully? If so, can it be done with no security risks? Let us know below!
Photos courtesy of Reddit, Shutterstock, Coin.dance
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