Tag: segwit

Why we should be excited about Schnorr signatures

Bitcoin development is not standing still. We have many cool new features to look forward to. Segwit, Lightning Network, and Schnorr signatures aim to solve Bitcoin’s scalability problem and make the cryptocurrency more usable. The first two features have been covered by almost all mainstream media out there, but there is surprisingly little info on Schnorr signatures. Explaining Schnorr signatures requires a short detour into cryptography and the mathematics behind Bitcoin. Let’s dive in. The problem Every feature must solve a problem. In this case, we are solving the problem of Bitcoin scalability. Bitcoin transactions require signatures. These signatures...

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SegWit implementation not fast enough, says cryptoshpere

Coinbase vice president, Dan Romero announced implementing SegWit is among the company’s top priorities. Bitcoin’s price drew many new investors to the platform, increasing transaction processing times, and raising fees. The surge of new users strained technical infrastructure, leading to service delays on one of the world’s leading cryptocurrency exchanges. SegWit aims to reduce transaction lead times and lower fees for Bitcoin users. SegWit community Coinbase’s stance, however, is not without controversy. Many in the crypto-community criticize the exchange for not implementing the update fast enough. Coinbase claims security and site performance are their main concerns. In a blog post...

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Recovery of Bitcoin Cash stuck in SegWit addresses is possible!

Bitcoin Cash worth hundreds of thousands of dollars is stuck in SegWit addresses, sent there mistakenly by hapless users. Normally, recovery would be impossible, but Antoine Le Calvez reports that there is a way to restore access to blocked funds, albeit a tricky one to implement. The recent forks and introduction of SegWit have created confusion around using wallets and addresses, leading to these misplaced transactions. If you know the private key for the wallet you sent money to, repairing this sort of mistake is straightforward, but this is not the case with exchanges. If you send Bitcoin Cash...

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Bitcoin scaling debate – the history of agreements

Among pros of transacting using Bitcoins, the first thing that comes to mind is its speed and relatively low costs. Unfortunately, as the BTC network develops and number of transactions and users started to grow like a flash, the situation is starting to change. Bitcoin scaling debate was supposed to provide solutions for constantly growing time and cost of transactions. In most cases, the ones who are responsible for the development of the biggest cryptocurrency are discussing current issues and workflow on internet forums and platforms for developers. In order to face the scalability issues, real-world meetings were organized....

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Charlie Lee against SegWit2x

Charlie Lee, the creator of Litecoin and a person who has been supporting the development of Bitcoin and other cryptocurrencies for years, declared on his twitter that he is against SegWit2x. In his opinion, miners and the business world are unable to change Bitcoin without a consensus from the users. To empower his message, Lee added [NO2X] to his name, while calling on others to do the same. Miners and business cannot change Bitcoin without user consensus. So today, to show my disapproval, I'm adding [NO2X] to my name. Join me! — Charlie Lee [NO2X] (@SatoshiLite) September 27, 2017...

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