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Ethereum Classic Segwit

Upcoming Btc, Eth And Etc Hard Forks

Upcoming Btc, Eth And Etc Hard Forks

Bitcoin, Ethereum, and now Ethereum Classic communities have realized that they are missing out on the ICO hype. Solution: hard forks! Take a look at the schedule of these events. 2017 is truly a spectacular year for cryptocurrencies. ICOs got harder to execute because investors stopped believing empty words and started doing proper due diligence. The scam artists quickly adapted, and the new trendy thing is to fork existing cryptocurrencies. Let's look into what a hard fork is, how one can create a hard fork, who benefits from it, and wrap up with the tentative schedule of upcoming Bitcoin and Ethereum hard forks. A cryptocurrency is built out of the following components: A blockchain that keeps track of transactions. A set of rules that determine what a valid blockchain is. These rules are written as code in the mining software. A group of miners that donate their computational power (for mining rewards) that choose to accept a certain set of rules. In practice this means that miners get to pick which mining program to run. A successful hard fork occurs when the following two conditions are met: A significant group of miners choose to accept the new rules of the mining game. A significant group of users choose to accept these rules as well, choosing to transact on the new blockchain that respects new rules, paying transaction fees to the new group of miners and setting an exchange rate that makes mining on the new blockchain profitable. When a new cryptocurrency is born it needs to pick the mining rules and the initial state of the blockchain. Prior to 2017 this usually meant coming up with a genesis block [1] and writing the mining software. These days, after Bitcoin Cash has proven that it's possible to choose existing Bitcoin blockchain as prior state instead of s Continue reading >>

The Bitcoin Fork, Segwit And Bitcoin Unlimited Explained Simply

The Bitcoin Fork, Segwit And Bitcoin Unlimited Explained Simply

Last updated on July 20th, 2017 at 01:58 pm Theres been a lot of talk inthe Bitcoin community lately about stuff like a fork, segwit and Bitcoin Unlimited. Many people dont understand what all of this is about but its creating a lot of stress due to misleading or partial information that is being spread. In this post I will aim to clarify the uncertainty and give a better view of whats going on mainly for newbies and non technical people.Hopefully, once you finish reading this post you will know whats going on in the Bitcoin community these days and will be able to better prepare yourself for the different outcomes. A short disclaimer before I begin Im not a technical person and I have littletechnical background. The information I bring here today is what Ive managed to collect after weeks of research from around the web. I may sometimes oversimplify technical issues in order to easily explain them. I believe there are only a handful of people who understand this issue and its technical aspects completely. If you do find a mistake in this post I encourage you to let me know in the comment section below and I will look into it. Lets begin A fork is a technical word used by developers working on open source projects. It basically means a softwareupdate. Every time you update a program on your phone or computer you have forked from the older version. Bitcoin has introduced twonew fork concepts: 1. Hard fork A mandatory software update that conflicts with the older version. Your program wont run if you dont update it. An example can be finding a criticalbug that allows people to exploit the software therefor everyone is required to update their program in order to continue using it. If you dont update you cant use the program. Also, there is no way to reverse a hard fork o Continue reading >>

As Bitcoin Hard Forks Go, Segwit2x Launches With Little Support

As Bitcoin Hard Forks Go, Segwit2x Launches With Little Support

As Bitcoin Hard Forks Go, SegWit2x Launches With Little Support The SegWit2x hard fork activated on Thursday at Bitcoin block 501451, but so far it has struggled to gain support from both users and cryptocurrency services. Leading up to the fork, SegWit2x (B2X) futures surged in value, peaking above $1,200 on Dec. 27. This was likely because, due to the naming of the fork, many people mistakenly believed that it was a relaunch of the Jeff Garzik-led project that had failed to activate in November.However, despite what a SegWit2x spokesperson told CCN in an email , this fork should not be considered a continuation of the former protocol upgrade. As CCN detailed in an earlier piece covering the fork, B2X has a different development team with questionable qualifications as well as significantly-altered protocol specifications , which include changing the hashing and difficulty adjustment algorithms, blocktime, and address structure. Moreover, the B2X fork actually increases the blocksize to 4MB, not the 2MB suggested in the proposals name and advocated by the original SegWit2x backers. Presumably because traders began to realize this, B2X plunged on Dec. 28. and is currently trading at just $323. Trading volume has also been incredibly thin during B2Xs first full day on exchanges, and the coins 24-hour volume is just $5.3 million. This lack of launch-day support from exchanges is indicative of a larger that SegWit2x faces assuming it is not an outright scam as it seeks to establish itself as a sustainable cryptocurrency. The network does not appear to have much support from mining pools, and the B2X team has been encouraging miners to use the developer-created pool. Moreover, Freewallet is the only noteworthy wallet service to confirm that it will support B2X. Trezor, one Continue reading >>

Ethereum Classic (etc): A Darkhorse Hold For 2018?

Ethereum Classic (etc): A Darkhorse Hold For 2018?

Ethereum Classic (ETC): A Darkhorse Hold for 2018? Ethereum Classic (ETC) is going on a tear right now, as its up over 16 percent in value over the past 24 hours at press time, and the run looks like it still has steam. ETC is going on a run Image via CoinMarketCap Now, there are a ton of newcomers in the crypto space, many of them who have watched Ethereum (ETH) surge the past few days with awe. But that awe gives way to confusion quickly: what is ETC and what separates it from ETH? After you understand some of the nuances of the contrasts, then youll have to decide for yourself whether you think Ethereum or Ethereum Classic would be a better hold for 2018. Or, of course, you can always hold both. Well walk you through some speculative considerations that might help you make up in your own mind going into this new year. Ethereum Classic bills itself as the censorship-resistant, original Ethereum. The ETC community disagreed with the Ethereum developers decision a few years ago to fork Ethereum to return funds to the investors who lost their money in the infamous DAO hack, and ETH and ETC have gone in different directions ever since. Accordingly, the ETC community is against central planning. Sort of like how Bitcoin Cash (BCH) fans bill their community as the censorship-resistant brand of Bitcoin (BTC). And that kind of marketing is particularly attractive to the many libertarian-minded individuals in the cryptocurrency space. So, in a purely speculative way, Ethereum Classic can be a way to hedge your bet against Ethereum. Say you hold some Bitcoin and Bitcoin Cash in your portfolio, and may the best coin win. Youve got your bases covered because you hold some of both. So if you take the same mindset to Ethereum, you have a few options. Alongside your ETH, you could Continue reading >>

Price Analysis, August 9: Bitcoin, Ethereum, Ripple, Litecoin, Ethereum Classic

Price Analysis, August 9: Bitcoin, Ethereum, Ripple, Litecoin, Ethereum Classic

Price Analysis, August 9: Bitcoin, Ethereum, Ripple, Litecoin, Ethereum Classic Price analysis on BTC, ETH, XRP, LTC, ETC, August 9. SegWit has locked-in today. Now the network has to update its software to make sure all the SegWit transactions are stable. And theres almost a month before the SegWit implementation. Bitcoin price is indicating the first signs that the trend might break. This can also mean that the trend of a larger scale is in place. But $3,220 will be the turning point, as this is the last mark of the $2,619 uptrend. If theres no reversal down, the price rise is highly likely to last. Otherwise, Bitcoin will experience deeper correction. It seems like Ethereum price has established almost reversal-free structure. The current pullback might result in bigger correction. The upwave might get higher. But its important this structure remains, as capital infusion at key points helps form this trend. If there is no infusion and profits are locked in, the trend ends. This is what may happen at the current key point, $280. With a major trader locking in their profits, Ethereum will undergo deeper correction. But without any reversal at this level, the price will rise. Ripple price managed to make a new upwards wave but had no luck in settling. It looks like theres no support at $0.19, so it may lead to deeper fall. After the price fell from $0.2, current growth can be considered a flat wave. So the present wave down is, in fact, the $0.17 to $0.19 flat wave too. For this wave to stop, it needs to have a reversal at $0.186; we see large sell orders there. If Ripple fails to have a reversal upwards at this point, correction stays. A sharp impulse up has ended the flat wave. The reversal at the lowest border did not happen, and this kept the trend-like structure g Continue reading >>

Bitcoin Now More Likely To Get Segwit Before August 1st To Avoid Chain Split

Bitcoin Now More Likely To Get Segwit Before August 1st To Avoid Chain Split

Bitcoin Now More Likely to Get SegWit Before August 1st to Avoid Chain Split The discussion around scaling Bitcoin has continued into the summer months of 2017, with BIP 148 and SegWit2x now the two most talked about proposals. A key similarity between these proposals is that they both intend to activate the Segregated Witness (SegWit) improvement; however, up to this point, the way in which SegWit would be activated by each proposal has not been made compatible. A recently proposed change to the SegWit2x implementation could change this. BIP 148 is a proposal from the pseudonymous developer Shaolinfry that attempts to force miners into the activation of Segregated Witness via economic forces. The way it works is that those running Bitcoin nodes that have implemented BIP 148 will only accept blocks from SegWit-signalling nodes starting on August 1st. If BIP 148 is not signaled by more than 50 percent of the network hashrate by August 1st, then there will be a chain split; however, since SegWit is a soft fork , the chain not signaling for BIP 148 could eventually be reorganized into the BIP 148 chain if a majority of the network hashrate decides to support the BIP 148 chain at a later date or time. A reorganization would effectively mean that it was as if the non-BIP 148 chain never existed. The main reason that miners may change their mind after August 1st would be if the economic majority of users decided to support the BIP 148 chain, although they may also feel the need to avoid a chain split entirely. In Bitcoin, honest miners are incentivized to follow the most profitable chain for them to mine in a soft fork scenario. SegWit2x is a proposal that came out of an agreement between many Bitcoin-related companies made during Consensus 2017 in New York. The basic propos Continue reading >>

Exodus Wallet Roadmap

Exodus Wallet Roadmap

Exodus is always on the lookout to support more assets. In order for an asset to be considered, the following criteria must be met: The asset has developer resources and documentation. An asset has specialized API servers with load balancing setup for private use by Exodus. This is much easier if the API is based on Bitpay Insight. Market cap and 24-hr volumes are considered. Top-50 or perceived potential to enter the top-50. *As of March 8th, 2018, Funfair (FUN), Metal (MTL), and SingularDTV (SNGLS) are no longer available for exchange. They are now available for solely sending and receiving from your wallets.Please access these assets from their new home in the Ethereum Assets menu. Since version 1.45.0(released on February 15, 2018), Exodus supports a series of Ethereum Assets, including DigixDAO, Tron, VeChain, Icon, Binance Coin, Dragonchain and others. These assets can be safely stored, sent and received, but they are NOT supported for exchange within Exodus. We have dropped QTUM (ERC20 token) support in v1.36.0. Users who hold QTUM can still access it, but these old ERC20 tokens need be swapped to the mainnet version. Read more about the process here In Beta - It's actively being tested and will be moved to Exodus when it's ready for general release. Under Evaluation - We are actively looking at the requirements to integrate this into our Beta platform Planned - It's on our radar but we have not actively started development on it yet. Continue reading >>

Ethereum Classic - Peer-to-peer Network (p2p) - Bitcoin - Segwit (segregated Witness) - Mining - Masf - Bitcoin Cash (bch) - Difficulty - Sha-256 - Central Ledger -

Ethereum Classic - Peer-to-peer Network (p2p) - Bitcoin - Segwit (segregated Witness) - Mining - Masf - Bitcoin Cash (bch) - Difficulty - Sha-256 - Central Ledger -

bitcoin can refer to the protocol, network or the unit of currency. strictly, bitcoin with a capital b refers to the protocol & the network, whilst bitcoin with a lowercase b is the currency. bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer. an optimization proposed by bitcoin core developer pieter wuille at the end of 2015, segwit increases the volume of transactions that fit into each block without raising the block size parameter. specifically, it also removes transaction malleability, an issue that once resolved could lead to a number of network improvements. miner activated soft fork - its a mechanism by which miners trigger activation of soft forks when a majority signals the readiness to upgrade. this allows for a faster activation time for the soft fork, leaving full nodes to upgrade at their leisure. sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. however, it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. any computer network where two or more computers are connected and share resources without going through a separate server. these networks can become massive, allowing for things like file-sharing or cryptocurrency. a hard fork of bitcoin led by bitcoin mining pool viabtc that supports big blocks of up to 8mb and removes segwit. its launch date was 1 st august 2017 to coincide with the bip148 segwit signaling activation. a split from an existing cryptocurrency, ethereum after a hard fork. mining is the act of validating blockchain transactions. the necessity of validation warrants an incentive for the miners, usually in the form of coins. in this cryptocurrenc Continue reading >>

Bitcoins Governance Problem: Why Ethereums Transition To Proof-of-stake Is More Important Than Ever

Bitcoins Governance Problem: Why Ethereums Transition To Proof-of-stake Is More Important Than Ever

Bitcoins Governance Problem: Why Ethereums Transition To Proof-Of-Stake Is More Important Than Ever Bitcoins scalability issue offers insight into how Ethereum can avoid the problems that the current dominant cryptocurrency is experiencing. Bitcoins scalability debate has flooded news outlets with stories focusing on the decision for Bitcoin to fork (both soft and hard) or not fork. Although the argument has been waging for two years, recent Twitter storms, blog posts, and other public rantings have displayed the escalating battle between developers and supporters of Bitcoin Core and those of Bitcoin Unlimited, the proposed hard-fork counterpart to the original Bitcoin network. For the uninitiated, Bitcoin Core (BTC), the most valuable cryptocurrency to date, whichoperates on the original Bitcoin blockchain, has struggled to scale in relation to the increasing demands of the network. The problem is that Bitcoins block size (around 1 megabyte) is proving to be too small and inefficient at executing transactions in a timely fashion (processing a mere 7 transactions per second compared to Visa, which processes an average of 4,000 transactions per second). According to a blog post published on March 23, 2017, by physicist and managing editor for Ledger, Peter R. Rizun: [O]ne year ago the average [Bitcoin] confirmation time was 18 minutes; now it is 1 hour and 46 minutes. Fees have increased too, jumping from $0.09 one year ago to $0.83 today (28-day trailing averages). The increase in confirmation times and transaction fees has essentially caused the bitcoin network to hit a wall, prompting bitcoins value to drop over this past weekend to below $900 and its market cap to plunge to under 70 percent. Although the current price has rebounded, this latest fluctuation in price Continue reading >>

With Segwit, Litecoin Faces A (soft) Fork In The Road

With Segwit, Litecoin Faces A (soft) Fork In The Road

With Segwit, Litecoin Faces a (Soft) Fork in the Road Litecoin is implementing Segwit, and that could lead to increased interest in thealternative cryptocurrency once ranked largest after Bitcoin, but now ranked third after Ethereum and Ripple. As the Bitcoin community still debates what solution it would like to implement to solve the block size debate, the Litecoin community seems to be placing its vote with Segwit, a soft fork solution proposed by the Bitcoin Core development team. Litecoin has been around for some time, but founder Charlie Lee, Coinbases director of engineering, does not tend to the digital currencys garden as much as would be needed to evoke sustained confidence in the project. Litecoin entails key differences when compared to Bitcoin. Leeshowed foresight by predictingthe block size crisis, wherein Bitcoin would need to change its code in order to scale and thus allow for growing numbers of transactions. Lee kept this in mind while making the Litecoin platform, in which 84 million litecoins are to be mined in total. He continues to retweet people who suggest that, instead of risking a split chain in Bitcoin due to an unpopular soft or hard fork, crypto-users use Litecoin for small transactions . While Bitcoin (once called by many, digital gold) was to act as a savings or long-term speculative digital instrument, Litecoin (referred to sometimes as digital silver) would be the day-to-day transactional currency crypto-currency users employed. What weve seen instead is a complete ignorance of Litecoin, due in part to lackluster marketing since the early days, when it appeared in the likes of Vice and Wired. Litecoin held a more than one billion dollar market capitalization in early 2014. However, its price history since then has been unremarkable and Continue reading >>

Bitcoin Rebounds After Briefly Entering Correction Territory

Bitcoin Rebounds After Briefly Entering Correction Territory

Bitcoin rebounds after briefly entering correction territory Prices of bitcoin and Bitcoin Cash rebounded on Tuesday, while ethereum remained under pressure, further retreating from recent all-time highs. A single bitcoin BTCUSD, -0.28% was most recently up 2% on the day at $4,139.87, after dropping to as low as $3,687 in morning trade. At the session lows, the virtual currency had briefly been pushed into correction territory, defined by technical analysts as a 10% or greater fall from a recent peak in an asset. Bitcoin hit as low as $3,687 earlier on the day, which would represent a 16.7% decline from its mid-August record close above $4,425, according to virtual-currency site Coindesk.com . At current levels it is 8% below that peak. Even after the stumbles, bitcoins price is about 400% higher since the start of the year, with a market cap at $68.7 billion, according to digital-currency research site Coinmarketcap.com . Meanwhile, ethereums ether token retreated, coming off a recent record, down 0.5% at $322.33 on the day. It reached a peak in mid-June at about $380 a token. Some industry experts played down the digital-currency slide. Naturally some of the prices and exuberance seen in the price are causing traders to take profits, said Charles Hayter, chief executive and founder of CryptoCompare. The moves for bitcoin come as the industry has tackled so-called scaling issues, which are intended to increase transaction sizes in the blockchain network. Traditional bitcoin participants have coalesced around a new protocol known as Segregated Witness, or SegWit., which solves bitcoins scaling issue. With SegWit implementation it has perhaps been a question of buy the rumor, sell the news, said Hayter, referring to the industrys recent trading in the wake of upgrades t Continue reading >>

Ethereum Classic A Sleeping Giant

Ethereum Classic A Sleeping Giant

Ethereum Classic (ETC), a fork of Ethereum (ETH), has been overlooked for a long time since most eyes were focused on the main Ethereum blockchain. However, this might come to an end quite soon as the number of ETH transactions are rising sharply and the network is starting to have difficulties to process them. As a result, the transaction fees are already spiking over $1. If this trend continues, the Ethereum network might reach a critical point before Plasma, a new technology that should massively increase the network throughput, is implemented. Since Ethereum Classic provides the same functionality, it is very easy to switch from ETH to ETC if such an overload happens. This would lead to a huge transfer of capital from Ethereum to Ethereum Classic. Here we can take a look at Bitcoin Cash (BCH) as an analogous example. Since Bitcoin failed to implement the SegWit2x hard fork, hundreds of thousands of unconfirmed transactions started to accumulate in the network and transaction fees jumped to tens of dollars. This made Bitcoin Cash with 8MB blocks to be seen as a viable alternative with the same functionality, but much faster and with lower fees. As a result, its price peaked in November 2017 to more than 0.4 BTC in the BTC/BCH market. At the time of writing, the BCH price is around 0.16 BTC. Although the analogy between ETC and BCH is clear, Ethereum Classic seems to be somehow forgotten and the exchange rate on the ETC / ETH market is as low as 0.032 ETH / ETC at the time of writing. Compared to BCH vs. BTC, the ratio is about 5 times lower. Predicting something in the crypto world is always uncertain. But if Ethereum starts having problems with the transaction capacity, which is quite likely to happen in the following weeks, there are high odds that Ethereum Classi Continue reading >>

Litecoin's Segwit Activation: Why It Matters And What's Next - Coindesk

Litecoin's Segwit Activation: Why It Matters And What's Next - Coindesk

Litecoin's SegWit Activation: Why it Matters and What's Next In an era when blockchainupgrades have been defined by years of intellectual combat, a new milestone is set to offer a stark contrast to that narrative. Barring any unexpected hiccups, a highly anticipated code change is set to lock-inon the public litecoin blockchain today. With the introductionof Segregated Witness (SegWit), litecoin, the fourth-largest cryptocurrency by market cap, should see a boost in the capacity of its currently limited transaction throughput, among other changes to its protocol. Adding impact to the news is the context in which this upgrade takes place. SegWithas been at the heart of bitcoin's scaling debate since it was first proposed at the end of 2015. On that network, miners have been hesitant to support the change for technical and political reasons, and as such, users have been calling to test the technology on litecoin as a way to determine whether concerns are valid. Since SegWit could potentially pave the way for technologies that expand the value proposition of cryptocurrencies, the move toward accepting the upgrade hasreignited excitement aroundthe normally less-popularcryptocurrency. Litecoin's price has nearly tripled since the end of March as a result. But, what's the big deal? Why are some in the community so eager to seethe change? Litecoin Foundation director Franklyn Richards argued that the upgrade mightpave the way for other technologies to be tested on a live platform, such as the long-proposed Lightning Network and sidechains a sentiment echoed by mining pool F2Pool operator Wang Chun when contacted byCoinDesk. And, oddly enough, some see it as a way to moveforwardbitcoins scaling debate, even if it's unclear exactly how that might happen. As the rules are coded Continue reading >>

Bitcoin Price Is Likely To Surpass $3,000 After Segwit Activation: Opinion

Bitcoin Price Is Likely To Surpass $3,000 After Segwit Activation: Opinion

Bitcoin Price is Likely to Surpass $3,000 After SegWit Activation: Opinion Although August 1 is still hours away, most Bitcoin users are more confident of the community than they were a few weeks ago. Although Aug. 1 is still hours away, most Bitcoin users are more confident of the community than they were a few weeks ago. As a matter of fact, some sections of the community are expecting the cryptocurrency to achieve new all-time highs in terms of price. Due to the intensity of the scaling debate within the community, several gloomy predictions arose about the future of the cryptocurrency . In retrospect, such debates and predictions may be seen as a blessing in disguise even though it is not Uhuru yet for Bitcoin users. The curiosity generated by the level of debate between factions of the community motivated Bitcoin users to seek knowledge of the technology as a whole. Also, as users try to protect their digital assets , they sought clarity about the entire process and the various possible consequence of any eventual outcome. One group that has played a huge role in creating awareness about developments in the Bitcoin community are the services providers. These service providers include exchanges, wallet vendors (especially hardware wallets) among others. Kumar Gaurav, Founder of Cashaa - Auxesis group, tells Cointelegraph: Whereas in the next couple of hours some may still sell their Bitcoin due to uncertainty or not knowing how to deal with the situation, it is more likely we see Bitcoin increasing over $3,000 and to all-time-highs, as there has been plenty of information and guidance concerning this time so the majority of the community is well-prepared. Gaurav notes that some other reasons that may be responsible for the prevailing attitude within the ecosystem i Continue reading >>

Coinbase: We're Still Working Hard On Segwit Support, Coming 'in 2018' - Bitsonline

Coinbase: We're Still Working Hard On Segwit Support, Coming 'in 2018' - Bitsonline

Coinbase: Were Still Working Hard on SegWit Support, Coming In 2018 Amid rumors it plans to support additional currencies including Bitcoin Cash, Coinbase is reminding its valuable BTC users its still working on a better solution for them. The company is still planning to implement SegWit in 2018 to help reduce transaction fees and speeds. Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: In an update this week , vice president and GM Dan Romero wrote the usual reminder that security and performance are priorities: Many of our customers have been asking for SegWit, and were working out a way to implement this upgrade safely.We store billions of dollars worth of bitcoin on behalf of customers and any change to our infrastructure is done with significant planning and consideration for the security and stability of our platform. Bitcoins ~1MB transaction blocks remain clogged as its price and popularity surge. Segregated witness (SegWit) capability was activated on the Bitcoin blockchain last August. However, wallets and other services must implement their own complex backend changes to realize any of SegWits promised benefits. Beyond 2018, theres no deadline for when Coinbase will set them live. SegWit Gains or Bitcoin Cash The War Continues Coinbase, like other popular cryptocurrency services, is being drawn unwillingly into Bitcoins holy war over scaling and usability. Now the two sides in that war have split into rival currencies with similar names (BTC and BCH) any work to better support one is seen as taking sides. Coinbase has promised to allow Bitcoin Cash withdrawals for those who held BTC on 1st August 2017, when the blockchains diverged. It also allowed temporary support for Ethereum Classic in 2016 after tha Continue reading >>

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