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💴 | What is "hard fork / soft fork"?Explaining the mechanism of improvement that often occurs in crypto assets


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What is a "hard fork / soft fork"?Explaining the mechanism of improvement that often occurs in crypto assets

 
If you write the contents roughly
But why are hard and soft forks still happening on a regular basis?
 

Bitcoin improved its specifications on November 11th with a soft fork called "Taproot" ... → Continue reading

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Bitcoin scalability issues

Bitcoin scalability issuesIsBitcoinInBlock chainBlock size is 1Megabyte This is a problem resulting from being restricted to (MB)[1] .. Blocks larger than 1MB are automatically removed from the network as invalid[2]..Bitcoin blocks have been on the Bitcoin network since the last block was created.transactionTo process[3]: ch. 2..This allows it to process 1-3 transactions per second (theoretically up to 4 transactions).[4].

1MB limit for BitcoinbottleneckAs a result, transaction fees increased and transaction processing delays that did not fit in one block were delayed.[5] ..There were various proposals on how to expand the scale of Bitcoin, and it was controversial. In 2017Business insiderCharacterized this controversy as "an idealistic battle for the future of Bitcoin."[6].

On July 2017, 7, the controversial "Segregated Witness ("" was caused by a Bitcoin miner locking in a software upgrade called "Bitcoin Improvement Proposal (BIP) 21".followed, Segwit) ”upgrade was activated in block 477120[7]..The upper limit of the block size was also scheduled to be raised to 2017MB in November 11 (SegWit2x)[8], The plan has been suspended due to "not enough agreement"[9].

fork

A fork in a blockchain is when the blockchain is split into two parts.Forks on the Bitcoin network occur regularly as part of the mining process, such as when two miners find a block at about the same time, resulting in a temporary fork of the network.After that, the subsequent block is added and the block with the longer chain becomes effective, and the other block is isolated (destroyed) by the network, and the fork disappears.Blockchain can also be deliberately forked when changing the rules of the software that developers used to determine valid transactions.[10][11].

Hard fork

According to the "Coin Desk", hard forks are a rule change that allows you to create new blocks that are not considered valid (incompatible) with older software.[10].

Both "Bitcoin XT" and "Bitcoin Classic" are proposals aimed at raising the block size limit, and they are "hard forks" as a way to improve scalability by core developer Eric Lombrozo. Was called.However, support for both proposals diminished over time.[12] .. "Bitcoin Unlimited" is also a proposal to adjust the block size limit, resulting in a hard fork.[6].

A hard fork can split the network if all participants in the network do not follow the fork[10]..For example, Ethereum Classic has a different response to the hacking case of "The DAO".EthereumBorn as a result of a hard fork in the network[13][14].

Soft fork

In contrast to hard forks, soft forks are a rule change that creates blocks that are perceived as valid (incompatible) by older software.[10]..Even soft forks can split the network when blocks created by software that has not been upgraded by the new rules are no longer considered valid.[15].

"Segregated Witness" is an example of a soft fork proposal.Blockstream co-founder and developer Peter Wheel proposed Segregated Witness in December 2015.[16].. Segregated Witness is an update aimed at solving transaction malleability known as a habit of Bitcoin software.[17] ..Segwit is a system that separates signature data from other transaction data.Segwitt has been proposed as a scaling solution and is influencing in two ways.First, Coin Teleraph predicts that it will expand in the range of about 2MB shortly after Segwit activation (compared to Bitcoin's current 1MB capacity).[17]..Second, by resolving transaction malleability, Cointelegraph believes that Segwit will be able to implement a new second layer on top of Bitcoin.[17].

The "User Activate Soft Fork" (UASF) is a controversial idea of ​​trying to upgrade a blockchain without the support of miners who provide the computing power of the network.[10].

Scaling proposal

Various proposals have been submitted to scale Bitcoin. In 2015, Jeff Garsick proposed "BIP 100" (BIP means "Bitcoin Improvement Proposal") and Gavin Andersen proposed "BIP 101".[2].. In mid-2015, some companies supported a block size limit of 8MB[18].

  • Bitcoin XT ... Proposed in 2015 to improve transaction processing capacity by raising the block size limit[19].
  • Bitcoin Classic ... Proposed in 2016 to improve transaction processing capacity by raising the block size limit[20].
  • In 2016, an agreement called the "Hong Kong Agreement" was signed between some miners and developers.The agreement included both a Segregated Witness activation and a block size cap of 2015MB, proposed by Bitcoin Core developers in December 12.However, neither went as planned.[21].
  • Bitcoin Unlimited ... Supported by Mining Pool ViaBTC, AntPool, Investor Roger Ver and Bitcoin Unlimited Chief Scientist Peter Rizun in support of miners flexibly raising the block size limit.[22] ..Bitcoin Unlimited is different from Bitcoin Core in that the block size isHard codeIt's not (fixed), but rather uses an idea called "sudden consensus" to allow nodes and miners to set caps.[22]..The people behind the Bitcoin Unlimited proposal argue that the miner's hardware protects the network, so the miner should decide on a scaling solution from an ideological point of view.[23].
  • BIP148… This proposal, called “User Activated Soft Fork (UASF)” or “Popular Rebellion,” is planned to be implemented on August 2017, 8, with the aim of having miners activate Segwitt.[24]..It was unnecessary because the miners voted to activate Segwitt in line with the BIP91 plan.

Activated scaling proposal

Segregated Witness

Segregated Witness:

  • Change of data storage method of Bitcoin block[25].
  • Increased processing power while maintaining compatibility with previous Bitcoin software[25].
  • Fixed transaction malleability that was an obstacle to other Bitcoin projects[25].
  • Lightning Network implementation has become feasible[26].

Activation

In May 2017, the "Digital Currency Group" became "SegWit2x(Segwitt 2x) ”(New York Agreement) announced that it has submitted a proposal[27] ..It is to activate Segwit with 80% or more of the total hash rate of Bitcoin, signal with bit 4, increase the block size to 6MB within 2 months, and the proposal has already supported 80% or more of the total hash rate. Claims to have gotten[28].. In June 2017, Segwitt's proposal was further complicated by allegations that it may have infringed a patent filed with the United States Patent and Trademark Office.[29].. As of 2017, the proposal was reportedly endorsed by more than 90% of the hash rate, but it was controversial in that work on this project was limited to invite-only groups. rice field[27].. In mid-July 2017, it was revealed that miners supported the implementation of SegWit7x before the implementation of UASF on August 2017, 8, and tried to avoid the risk of hard forks in the Bitcoin network.[30][31][32] .. BIP 7 was locked in on July 21st and the controversial Segwitt upgrade was activated with block 91.[7].. By August 8th, 8% of Bitcoin's mining pools have announced support for Segwitt, but Segwit will not be available until August 100st.However, after that, the miner will start eliminating blocks that do not support Segwit.[33].

Initially, most Bitcoin transactions were not available for upgrades. Bitcoin trading percentage using SegWit increased from 10% to 7% in the first week of October[34].

Bitcoin Cash

Born on August 2017, 8 by Bitcoin's blockchain hard fork, Bitcoin's mining pool / currency exchange "ViaBTC" against Segwitt, etc., Bitcoin diverged from block 1 and later[35][36]..After a hard fork, Bitcoin owners will have as much Bitcoin Cash as they own.[37]..Bitcoin Cash raised the block size limit from 1MB to 8MB without introducing Segwitt[38].. By the evening of August 8st, BCH's market capitalization was third in cryptocurrencies (following Bitcoin and Ethereum).[39]..Many crypto exchanges have been temporarily out of service for several days in preparation for August 8st[40][41][42][43].

Other scaling suggestions

SegWit2x

The August 2017 implementation of Segregated Witness was only half of the "New York Agreement" compromised by those who wanted to increase the effective block size with SegWit and those who wanted to increase the block size with a hard fork.[44]..The latter half of the SegWit 2X included raising the block size to 2017MB with a hard fork in November 11.[45].

SegWit was created by people who were not involved in SegWit2x, most of them opposed to SegWit2X[46].

SegWit2x hard forks were more controversial than Bitcoin Cash hard forks[47]..Some companies that originally supported the New York Agreement (F2Pool, Bitwala, SurBTC, Wayniloans, etc.) have withdrawn support for the proposal.[48][49][50].. The hard fork in November could bring a new blockchain after the second blockchain created in August.Cryptocurrency exchanges Bitfinex, HitBTC and CEX.io have declared the original chain to be "BTC" and the new 11MB chain to be "B8X", while Bitstamp, bitFlyer, Kraken and other exchanges have official positions. Not announced in[51]..Some signers of the New York Agreement (including Coinbase, Blockchain and Xapo) have suggested that they will not decide which chain is called "Bitcoin" until after the hard fork.[52].

The main issue was that SegWit2x developers chose to implement opt-in (optional) replay protection over the powerful replay protection implemented in Bitcoin Cash for hard forks.[53]..Opt-in replay protection means that the Segwit2x chain will continue to accept transactions for the original chain in addition to replay-protected transactions that are valid only for Segwit2X.Both users who fail to send or replay protected Segwit2x transactions on the original Bitcoin chain are vulnerable to replaying their transactions to other chains and of accidental funding. It can lead to loss.This lack of strong replay protection has created fierce controversy in the Bitcoin community.[54].

Prominent Bitcoin Core contributor and blockstream employee Gregory Maxwell argued that the previous blocksize increase agreement was coerced.[55].. The implementation of SegWit2x will incur more transaction fees for the miners, while reducing the fees for entering the blockstream on the sidechain.Also, while the power of miners increases, the power of core developers decreases.[56].. While some supporters of SegWit2x are keen to minimize the perception of Bitcoin Core developers in developing the Bitcoin protocol, some opponents are more focused on a few miners. Did not want[57].

On November 2017, 11, the developers of SegWit8x announced that the hard fork scheduled around November 2, 2017 was canceled for the time being due to insufficient agreement.[58][59]..Started in 2016 to solve Bitcoin's scalability problem following the failure of the hard fork plan to double the block size of BitcoinBitcoin ClassicDeveloper group issued a statement through Bitcoin Cash that "classic has served its purpose" and will stop development[60][61]..After the news, Bitcoin fell sharply (Bitcoin Cash rose sharply), but prices recovered thereafter.[62].

lightning network

Lightning Network is a project under development that aims to fix scalability problems by scaling Bitcoin "outside the chain" and realizes micropayments by enabling the microchannel state to be updated without using the blockchain. It makes it possible.In other words, most of the transaction processing is done outside the chain, and the processing done on the blockchain is at the time of "deposit" processing to open the channel and when the channel is closed (the final state of transaction processing performed outside the chain is on the network). Only when (recorded)[63].

Notably, Lightning Network significantly speeds up transactions when it needs to sign a transaction to get a transaction ID without the new sighash flag, ensuring that the transaction can be used before all parties have signed it. Can be planned.Another unique aspect of Lightning Network is the "commitment transaction", which utilizes a multi-key system to allow multiple users to participate in a transaction (and thus act as a single entity).Congestion decisions depend primarily on miners, so the network is based on the premise that sincere miners do not plan a "51% attack".[64].

Related Links

References

  1. ^ Hayes, Adam (October 2016, 10). “The Three Major Bitcoin Protocols Explained”. Investopedia. http://www.investopedia.com/news/three-major-bitcoin-protocols-explained/ 2017/1/18Browse. 
  2. ^ a b Andrew Marshall (March 2017, 3). “Bitcoin Scaling Problem, Explained”. The Coin Telegraph. https://cointelegraph.com/explained/bitcoin-scaling-problem-explained 2017/7/4Browse. 
  3. ^ Andreas M. Antonopoulos (April 2014). Mastering Bitcoin. Unlocking Digital Crypto-Currencies. O'Reilly Media. ISBN 978-1-4493-7404-4 
  4. ^ Bitcoin and Ethereum vs Visa and PayPal – Transactions per second
  5. ^ Jordan Pearson (October 2016, 10). “'Bitcoin Unlimited' Hopes to Save Bitcoin from Itself”. Vice Media LLC. http://motherboard.vice.com/read/bitcoin-unlimited-hopes-to-save-bitcoin-from-itself-block-size 2017/1/17Browse. 
  6. ^ a b Oscar Williams-Grut and Rob Price (March 2017, 3). “A Bitcoin civil war is threatening to tear the digital currency in 2 — here's what you need to know”. http://www.businessinsider.com/bitcoins-hard-fork-bitcoin-unlimited-segregated-witness-explained-2017-3 2017/7/2Browse. 
  7. ^ a b "BIP 91 Locks In: What This Means for Bitcoin and Why It's Not Scaled Yet". CoinDesk (September 2017, 7). 2017/7/21Browse.
  8. ^ “What Could Happen to Bitcoin? A Visual Guide to Scaling Outcomes”(July 2017, 7). https://www.coindesk.com/happen-bitcoin-visual-guide-scaling-outcomes/ 2017/7/24Browse. 
  9. ^ Bitcoin avoids splitting in November "not enough agreement" Coin Choice (November 2017, 11) Retrieved November 9, 2017
  10. ^ a b c d e Amy Castor (March 2017, 3). “A Short Guide to Bitcoin Forks”. http://www.coindesk.com/short-guide-bitcoin-forks-explained/ 2017/7/1Browse. 
  11. ^ What is Bitcoin's "fork"?
  12. ^ Alyssa Hertig (May 2017, 5). “Keep Calm and Bitcoin On? Developers Aren't Worrying About a Fork”. http://www.coindesk.com/bitcoin-on-developers-arent-worried-about-fork/ 2017/7/1Browse. 
  13. ^ “Exclusive: Grayscale launches digital-currency fund backed by Silver Lake's co-founder Hutchins”. http://www.marketwatch.com/story/grayscale-launches-ethereum-classic-investment-trust-2017-04-26 2017/4/27Browse. 
  14. ^ "Rejecting Today's Hard Fork, the Ethereum Classic Project Continues on the Original Chain: Here's Why". 2017/4/27Browse.
  15. ^ "Soft Fork”. Investopedia. 2017/7/21Browse.
  16. ^ Corin Faife (January 2017, 1). “Will 2017 Bring an End to Bitcoin's Great Scaling Debate?”. http://www.coindesk.com/2016-bitcoin-protocol-block-size-debate/ 2017/7/4Browse. 
  17. ^ a b c Andrew Marshall (March 2017, 4). “SegWit, Explained”. https://cointelegraph.com/explained/segwit-explained 2017/7/1Browse. 
  18. ^ Evander Smart (October 2016, 10). “'Why is My Bitcoin Transaction Taking So Long?' Here's Why”. https://cointelegraph.com/news/why-is-my-bitcoin-transaction-taking-so-long-heres-why 2017/7/4Browse. 
  19. ^ Alex Hern. “Bitcoin's forked: chief scientist launches alternative proposal for the currency". the Guardian. 2015/8/20Browse.
  20. ^ “Making Sense of Bitcoin's Divisive Block Size Debate”(July 2016, 1). http://www.coindesk.com/making-sense-block-size-debate-bitcoin/ 2017/6/22Browse. 
  21. ^ Pete Rizzo & Alyssa Hertig (May 2017, 5). “Bitcoin's New Scaling'Agreement': The Reaction”. http://www.coindesk.com/bitcoins-new-scaling-agreement-reaction/ 2017/6/29Browse. 
  22. ^ a b Alyssa Hertig (May 2017, 5). “CoinDesk Explainer: The Bitcoin Unlimited Debate”. http://www.coindesk.com/coindesk-explainer-bitcoin-unlimited-debate/ 2017/6/29Browse. 
  23. ^ Pete Rizzo (March 2017, 3). “CoinDesk Explainer: Bitcoin Unlimited: Mining Power Should Determine Hard Fork”. http://www.coindesk.com/bitcoin-unlimited-mining-power-should-determine-hard-fork-outcome/ 2017/7/2Browse. 
  24. ^ Alyssa Hertig (May 2017, 6). “Bitcoin's'Independence Day': Could Users Tip the Scales in the Scaling Debate?”. http://www.coindesk.com/bitcoins-independence-day-could-users-tip-the-scales-in-the-scaling-debate/ 2017/6/29Browse. 
  25. ^ a b c Hertig, Alyssa (August 2017, 8). “SegWit Goes Live: Why Bitcoin's Big Upgrade Is a Blockchain Game-Changer”.. 2017/8/23Browse.
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  27. ^ a b Alyssa Hertig (May 2017, 6). “Top Secret? Bitcoin Scaling Plan Segwit2x Leaves More Questions Than Answers”. CoinDesk. http://www.coindesk.com/top-secret-bitcoin-scaling-plan-segwit2x-leaves-questions-answers/ 2017/6/29Browse. 
  28. ^ “Leading bitcoin ecosystem participants reach consensus on scaling issue”. Econo Times. (May 2017, 5). http://www.econotimes.com/Leading-bitcoin-ecosystem-participants-reach-consensus-on-scaling-issue-723854 2017/6/23Browse. 
  29. ^ “Segregated Witness and the Possibility of Patent Infringement”. Nigeria Times. (June 2017, 6). http://www.nigeriatoday.ng/2017/06/segregated-witness-and-the-possibility-of-patent-infringement/ 2017/6/23Browse. 
  30. ^ "Dispute could mean financial panic in bitcoin". Associated Press (September 2017, 7). 2017/7/19Browse.
  31. ^ "Suddenly, Bitcoin Hard Fork Looks Unlikely As Chinese Exchange Readies For SegWit”. COINTELEGRAPH (July 2017, 7). 2017/7/18Browse.
  32. ^ "CoinDesk Explainer: How BIP 91 Enacts SegWit While Avoiding a Bitcoin Split”. COINDESK (July 2017, 7). 2017/7/18Browse.
  33. ^ "Bitmain Clarifies Its'Bitcoin Cash' Fork Position”. (June 2017, 7). 2017/7/27Browse.
  34. ^ Suberg, William (October 2017, 10). “Bitcoin: $ 4600, 50% Dominance, Forks Leave Altcoins No Room For Moon”. Coin Telegraph. 2017/10/9Browse.
  35. ^ "Bitmain Clarifies Its'Bitcoin Cash' Fork Position”. (June 2017, 7). 2017/7/27Browse.
  36. ^ "Some Bitcoin Backers Are Defecting to Create a Rival Currency". The New York Times (September 2017, 7). 2017/7/28Browse.
  37. ^ "Bitcoin Cash: What You Need to Know”. (June 2017, 7). 2017/7/28Browse.
  38. ^ "Bitcoin Cash: Another Fork in the Road for Bitcoin”. (June 2017, 7). 2017/7/29Browse.
  39. ^ "Bitcoin Cash Third-Biggest Cryptocurrency On First Day of Creation”. COINTELEGRAPH (July 2017, 8). 2017/8/2Browse.
  40. ^ "Gatecoin Service Preparation for the UASF and MAHF on 1 August 2017”. (June 2017, 7). 2017/7/28Browse.
  41. ^ "13 Japanese Exchanges Agree to Suspend Bitcoin Service on August 1”. BITCOIN.COM (July 2017, 7). 2017/7/27Browse.
  42. ^ "Our plans to handle potential BTC network disruptions”. POLONIEX (July 2017, 7). 2017/7/27Browse.
  43. ^ "Bitcoin Hard Fork: Our Position”. (June 2017, 7). 2017/7/27Browse.
  44. ^ Haywood, Matthew (August 2017, 8). “Segwit2x,'The New York Agreement'”. Bravenewcoin.com. 2017/10/6Browse.
  45. ^ Hertig, Alyssa (August 2017, 7). “Explainer: What Is SegWit2x and What Does It Mean for Bitcoin?”.. 2017/10/6Browse.
  46. ^ https://bitcoincore.org/en/2017/08/18/btc1-misleading-statements/
  47. ^ Suberg, William (October 2017, 10). “SegWit2x'Maximum Disruption' Could Be Sending Bitcoin Towards $ 4000”. Cointelegraph.com. 2017/10/10Browse.
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  50. ^ Suberg, William (October 2017, 10). “Barry Silbert Agreement Loses Support As SurBTC Exchange Appeals to Bitcoin Core Devs”. Cointelegraph.com. 2017/10/10Browse.
  51. ^ van Wirdum, Aaron (August 2017, 10). “To B2X or Not to B2X: How Exchanges Will List the SegWit2x Coin”.. 2017/11/7Browse.
  52. ^ Wilmoth, Josiah (September 2017, 11). “Bitcoin Wallet BitGo's Segwit2x Stance'Based Primarily on Market Price'”. Cryptocinnews.com. 2017/11/4Browse.
  53. ^ Song, Jimmy (October 2017, 10). “How Segwit2x Replay Protection Works”. Bitcointechtalk.com. 2017/10/6Browse.
  54. ^ van Wirdum, Aaron (August 2017, 9). “SegWit2X and the Case for Strong Replay Protection (And Why It's Controversial)”.. 2017/10/6Browse.
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  58. ^ Hertig, Alyssa (August 2017, 11). “2x Called Off: Bitcoin Hard Fork Suspended for Lack of Consensus”.. 2017/11/8Browse.
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  61. ^ Bitcoin will become official Bitcoin by June XNUMX. ”Bitcoin Cash surged XNUMX% in half a day, Classic closed Cointelegraph (November 2017, 11) Retrieved December 10, 2017
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  64. ^ Poon, Joseph (November 2015). “The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments". We Use Coins. 2018/2/25Browse.

外部 リンク

Bitcoin scalability issues

Bitcoin scalability issuesIsBitcoinInBlock chainBlock size is 1Megabyte This is a problem resulting from being restricted to (MB)[1] .. Blocks larger than 1MB are automatically removed from the network as invalid[2]..Bitcoin blocks have been on the Bitcoin network since the last block was created.transactionTo process[3]: ch. 2..This allows it to process 1-3 transactions per second (theoretically up to 4 transactions).[4].

1MB limit for BitcoinbottleneckAs a result, transaction fees increased and transaction processing delays that did not fit in one block were delayed.[5] ..There were various proposals on how to expand the scale of Bitcoin, and it was controversial. In 2017Business insiderCharacterized this controversy as "an idealistic battle for the future of Bitcoin."[6].

On July 2017, 7, the controversial "Segregated Witness ("" was caused by a Bitcoin miner locking in a software upgrade called "Bitcoin Improvement Proposal (BIP) 21".followed, Segwit) ”upgrade was activated in block 477120[7]..The upper limit of the block size was also scheduled to be raised to 2017MB in November 11 (SegWit2x)[8], The plan has been suspended due to "not enough agreement"[9].

fork

A fork in a blockchain is when the blockchain is split into two parts.Forks on the Bitcoin network occur regularly as part of the mining process, such as when two miners find a block at about the same time, resulting in a temporary fork of the network.After that, the subsequent block is added and the block with the longer chain becomes effective, and the other block is isolated (destroyed) by the network, and the fork disappears.Blockchain can also be deliberately forked when changing the rules of the software that developers used to determine valid transactions.[10][11].

Hard fork

According to the "Coin Desk", hard forks are a rule change that allows you to create new blocks that are not considered valid (incompatible) with older software.[10].

Both "Bitcoin XT" and "Bitcoin Classic" are proposals aimed at raising the block size limit, and they are "hard forks" as a way to improve scalability by core developer Eric Lombrozo. Was called.However, support for both proposals diminished over time.[12] .. "Bitcoin Unlimited" is also a proposal to adjust the block size limit, resulting in a hard fork.[6].

A hard fork can split the network if all participants in the network do not follow the fork[10]..For example, Ethereum Classic has a different response to the hacking case of "The DAO".EthereumBorn as a result of a hard fork in the network[13][14].

Soft fork

In contrast to hard forks, soft forks are a rule change that creates blocks that are perceived as valid (incompatible) by older software.[10]..Even soft forks can split the network when blocks created by software that has not been upgraded by the new rules are no longer considered valid.[15].

"Segregated Witness" is an example of a soft fork proposal.Blockstream co-founder and developer Peter Wheel proposed Segregated Witness in December 2015.[16].. Segregated Witness is an update aimed at solving transaction malleability known as a habit of Bitcoin software.[17] ..Segwit is a system that separates signature data from other transaction data.Segwitt has been proposed as a scaling solution and is influencing in two ways.First, Coin Teleraph predicts that it will expand in the range of about 2MB shortly after Segwit activation (compared to Bitcoin's current 1MB capacity).[17]..Second, by resolving transaction malleability, Cointelegraph believes that Segwit will be able to implement a new second layer on top of Bitcoin.[17].

The "User Activate Soft Fork" (UASF) is a controversial idea of ​​trying to upgrade a blockchain without the support of miners who provide the computing power of the network.[10].

Scaling proposal

Various proposals have been submitted to scale Bitcoin. In 2015, Jeff Garsick proposed "BIP 100" (BIP means "Bitcoin Improvement Proposal") and Gavin Andersen proposed "BIP 101".[2].. In mid-2015, some companies supported a block size limit of 8MB[18].

  • Bitcoin XT ... Proposed in 2015 to improve transaction processing capacity by raising the block size limit[19].
  • Bitcoin Classic ... Proposed in 2016 to improve transaction processing capacity by raising the block size limit[20].
  • In 2016, an agreement called the "Hong Kong Agreement" was signed between some miners and developers.The agreement included both a Segregated Witness activation and a block size cap of 2015MB, proposed by Bitcoin Core developers in December 12.However, neither went as planned.[21].
  • Bitcoin Unlimited ... Supported by Mining Pool ViaBTC, AntPool, Investor Roger Ver and Bitcoin Unlimited Chief Scientist Peter Rizun in support of miners flexibly raising the block size limit.[22] ..Bitcoin Unlimited is different from Bitcoin Core in that the block size isHard codeIt's not (fixed), but rather uses an idea called "sudden consensus" to allow nodes and miners to set caps.[22]..The people behind the Bitcoin Unlimited proposal argue that the miner's hardware protects the network, so the miner should decide on a scaling solution from an ideological point of view.[23].
  • BIP148… This proposal, called “User Activated Soft Fork (UASF)” or “Popular Rebellion,” is planned to be implemented on August 2017, 8, with the aim of having miners activate Segwitt.[24]..It was unnecessary because the miners voted to activate Segwitt in line with the BIP91 plan.

Activated scaling proposal

Segregated Witness

Segregated Witness:

  • Change of data storage method of Bitcoin block[25].
  • Increased processing power while maintaining compatibility with previous Bitcoin software[25].
  • Fixed transaction malleability that was an obstacle to other Bitcoin projects[25].
  • Lightning Network implementation has become feasible[26].

Activation

In May 2017, the "Digital Currency Group" became "SegWit2x(Segwitt 2x) ”(New York Agreement) announced that it has submitted a proposal[27] ..It is to activate Segwit with 80% or more of the total hash rate of Bitcoin, signal with bit 4, increase the block size to 6MB within 2 months, and the proposal has already supported 80% or more of the total hash rate. Claims to have gotten[28].. In June 2017, Segwitt's proposal was further complicated by allegations that it may have infringed a patent filed with the United States Patent and Trademark Office.[29].. As of 2017, the proposal was reportedly endorsed by more than 90% of the hash rate, but it was controversial in that work on this project was limited to invite-only groups. rice field[27].. In mid-July 2017, it was revealed that miners supported the implementation of SegWit7x before the implementation of UASF on August 2017, 8, and tried to avoid the risk of hard forks in the Bitcoin network.[30][31][32] .. BIP 7 was locked in on July 21st and the controversial Segwitt upgrade was activated with block 91.[7].. By August 8th, 8% of Bitcoin's mining pools have announced support for Segwitt, but Segwit will not be available until August 100st.However, after that, the miner will start eliminating blocks that do not support Segwit.[33].

Initially, most Bitcoin transactions were not available for upgrades. Bitcoin trading percentage using SegWit increased from 10% to 7% in the first week of October[34].

Bitcoin Cash

Born on August 2017, 8 by Bitcoin's blockchain hard fork, Bitcoin's mining pool / currency exchange "ViaBTC" against Segwitt, etc., Bitcoin diverged from block 1 and later[35][36]..After a hard fork, Bitcoin owners will have as much Bitcoin Cash as they own.[37]..Bitcoin Cash raised the block size limit from 1MB to 8MB without introducing Segwitt[38].. By the evening of August 8st, BCH's market capitalization was third in cryptocurrencies (following Bitcoin and Ethereum).[39]..Many crypto exchanges have been temporarily out of service for several days in preparation for August 8st[40][41][42][43].

Other scaling suggestions

SegWit2x

The August 2017 implementation of Segregated Witness was only half of the "New York Agreement" compromised by those who wanted to increase the effective block size with SegWit and those who wanted to increase the block size with a hard fork.[44]..The latter half of the SegWit 2X included raising the block size to 2017MB with a hard fork in November 11.[45].

SegWit was created by people who were not involved in SegWit2x, most of them opposed to SegWit2X[46].

SegWit2x hard forks were more controversial than Bitcoin Cash hard forks[47]..Some companies that originally supported the New York Agreement (F2Pool, Bitwala, SurBTC, Wayniloans, etc.) have withdrawn support for the proposal.[48][49][50].. The hard fork in November could bring a new blockchain after the second blockchain created in August.Cryptocurrency exchanges Bitfinex, HitBTC and CEX.io have declared the original chain to be "BTC" and the new 11MB chain to be "B8X", while Bitstamp, bitFlyer, Kraken and other exchanges have official positions. Not announced in[51]..Some signers of the New York Agreement (including Coinbase, Blockchain and Xapo) have suggested that they will not decide which chain is called "Bitcoin" until after the hard fork.[52].

The main issue was that SegWit2x developers chose to implement opt-in (optional) replay protection over the powerful replay protection implemented in Bitcoin Cash for hard forks.[53]..Opt-in replay protection means that the Segwit2x chain will continue to accept transactions for the original chain in addition to replay-protected transactions that are valid only for Segwit2X.Both users who fail to send or replay protected Segwit2x transactions on the original Bitcoin chain are vulnerable to replaying their transactions to other chains and of accidental funding. It can lead to loss.This lack of strong replay protection has created fierce controversy in the Bitcoin community.[54].

Prominent Bitcoin Core contributor and blockstream employee Gregory Maxwell argued that the previous blocksize increase agreement was coerced.[55].. The implementation of SegWit2x will incur more transaction fees for the miners, while reducing the fees for entering the blockstream on the sidechain.Also, while the power of miners increases, the power of core developers decreases.[56].. While some supporters of SegWit2x are keen to minimize the perception of Bitcoin Core developers in developing the Bitcoin protocol, some opponents are more focused on a few miners. Did not want[57].

On November 2017, 11, the developers of SegWit8x announced that the hard fork scheduled around November 2, 2017 was canceled for the time being due to insufficient agreement.[58][59]..Started in 2016 to solve Bitcoin's scalability problem following the failure of the hard fork plan to double the block size of BitcoinBitcoin ClassicDeveloper group issued a statement through Bitcoin Cash that "classic has served its purpose" and will stop development[60][61]..After the news, Bitcoin fell sharply (Bitcoin Cash rose sharply), but prices recovered thereafter.[62].

lightning network

Lightning Network is a project under development that aims to fix scalability problems by scaling Bitcoin "outside the chain" and realizes micropayments by enabling the microchannel state to be updated without using the blockchain. It makes it possible.In other words, most of the transaction processing is done outside the chain, and the processing done on the blockchain is at the time of "deposit" processing to open the channel and when the channel is closed (the final state of transaction processing performed outside the chain is on the network). Only when (recorded)[63].

Notably, Lightning Network significantly speeds up transactions when it needs to sign a transaction to get a transaction ID without the new sighash flag, ensuring that the transaction can be used before all parties have signed it. Can be planned.Another unique aspect of Lightning Network is the "commitment transaction", which utilizes a multi-key system to allow multiple users to participate in a transaction (and thus act as a single entity).Congestion decisions depend primarily on miners, so the network is based on the premise that sincere miners do not plan a "51% attack".[64].

Related Links

References

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