SegWit2x and Bitcoin Unlimited: the UAHF proposals to solve the problems of Bitcoin

Bitcoin currently holds the number one position among the most highly valued digital coins in the world, since its introduction the Cryptomoneda brought to its owners great benefits such as the realization of micropayments, the possibility of international transfers at very low cost and total control In the management of assets without the need for a banking entity that operates as an intermediary. Day after day the number of users who use the digital currency is not only a widely recognized payment system, but also as a means to send a great variety of information since its underlying technology allows the creation of applications aimed at solving Financial and organizational problems.

But in view of the large volume of information circulating through the network and the characteristics of the operation of the digital currency infrastructure, this has been going on for a long time through a series of problems that have been felt among users, since the Processing times have increased significantly and the cost of transfer fees is increasing to ensure the shipment of assets quickly.

Since the blocks of information processed by the network have a maximum of 1MB of available space, most of the proposed solutions have aimed at increasing the scalability of the digital currency infrastructure. However, it has been very problematic to implement a solution that will satisfy everyone, since to make it effective for the bulk of the user community, in most cases it is necessary to make irreversible modifications regarding the software of the equipment Miners. At least 80% of the members of the mining community need to be supported, as these provide the required processing power - better known as HASH - to ensure the decentralized operation of the digital currency.

Less than a week after the implementation of important changes in Bitcoin Blockchain, there are three most important proposals currently involving the installation of a Hard Fork - version of the protocol that includes significant differences and incompatible with previous versions. All of these have their interesting aspects and so we present them below:

Bitcoin ABC

Better known as "Adjustable Blocksize Cap", this is a version of Bitcoin that contemplates important changes in the protocol of the digital currency, addressing especially the issue of scalability giving operators of mining devices the possibility of Adjust the space of the information blocks.

In this version, miners can set up to a maximum of 16MB of space per storage block, assuming a network decongestion, since the number of summaries of information sent could be reduced substantially. Although many may think of it as an advantage, it would require a significant investment in Internet service, since loading larger blocks could require more navigation speed.

These changes in case of being made would make the mining devices incompatible with the version of SegWit that would soon be implemented, which would allow the creation of a new digital currency that would operate in parallel with Bitcoin. In case of this scenario, the mining company Bitmain already expressed its support for this proposal, guaranteeing that they would undermine and support the resulting cryptonnet.

Apart from these changes, this proposal proposes to guarantee the integrity of the digital currency protocol, so that several analysts hypothesize that this alternative could count on the support of the participants of the mining industry who remain faithful to The original idea after the conception of Bitcoin.

To know more about this proposal, we invite you to review an article published by Diario Bitcoin, which can be accessed by clicking here.

SegWit2X

This is a proposal designed by programmers to respond to the problem of scalability present in the digital currency network, which also incorporates important changes in the cryptonnet protocol that would be equally incompatible with the previous versions of this update.

SegWit2X proposes as a first step to expand the space of the mining blocks leading first to a maximum of 2MB during the month of August and raise successive increases, setting a maximum of 4,194MB in September this year, increasing it to 5.93MB in April Of 2018, increase again to 8.39MB in August of that year and bring the same of 11.86 to 16.78MB between the months of April and August of 2019.

Originally SegWit2X was raised as a contingency plan