ACTIVATION OF THE BIP PROTOCOL 91 IN THE BITCOIN NETWORK

On Sunday morning, July 23, the proposal to improve Bitcoin BIP 91, after which all the blocks that do not signal support for Segregated Witness (SegWit), will be rejected, was activated. According to xbt.eu, 97.9% of the miners signal support of SegWit.

We’d like to remind you that BIP 91 is a modified version of the BTC1 (SegWit2x) plan, which supported a number of bitcoin-companies and mining pools, which signed under the relevant agreement in New York in May of this year. In addition, BIP 91 is compatible with BIP 148 (UASF) – another proposal to activate the original SegWit proposal, described in due time in BIP 141.

Thus, the activation of BIP 91 also means a high probability of activation of the BTC1 protocol (SegWit2x) and the actual elimination of the risk of bitcoin hardfork due to the activation of BIP 148, which should occur on August 1.

At the same time, there is still a probability of a hardfork as a result of the increase in the block size to 2 MB, outlined by SegWit2x within three months after the activation of SegWit. BIP 91 was activated on block 477120. The next update of the level of complexity should take place on block 477792, therefore, if nothing unforeseen happens, SegWit should be fixed on 479808 (mid-August), and the direct activation of the protocol on block 481824 (end of August) will take place.

We'd like to remind you that the fixation of BIP 91 took place on the night of Friday, July 21, when more than 90% of the network hash signaled the support of this decision.

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