Bitcoin Scaling Solution SegWit Gets Possible Release Date

The code for a long-in-development bitcoin scaling solution could be released for activation as soon as 15th November.

The news comes from an update on a mailing list for developers working on bitcoin’s primary software, Bitcoin Core. There, developer Pieter Wuille posted new details this weekend about the planned rollout of Segregated Witness (SegWit ), which is set to be released in the next version of the software.

The new software will enable users (and, perhaps most notably, miners) to begin downloading the software, beginning a process by which the extended stakeholders in the distributed network will be asked to signal that they support the upgrade.

Today’s news follows months of testing by developers. SegWit’s code, for example, was first released  for testing over the summer, but the new version would bring the code into production .

However, SegWit won’t become active until 95% of the world’s bitcoin miners signal their support by running the upgraded version. Further, a waiting period of 2,016 transaction blocks needs to pass after that threshold is passed before the network begins enforcing the change.

The release is likely to spark further debate within the bitcoin community about the ways in which the bitcoin network can be scaled to support more usage.

Other software implementations, including Bitcoin Unlimited and Bitcoin Classic , have been put forward as alternatives to the Core approach, advocating for on-chain scaling  that expand the size of transaction blocks on the bitcoin network.

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Bitcoin Core Bitcoin Unlimited SegWit