What about the price ?!
BlockChain News
SegWit , check . What ’ s next for Bitcoin ?
The long-awaited Segregated Witness ( SegWit ) update has finally been activated , although you wouldn ’ t know it if you were looking at a price chart . SegWit has been the main focus within the Bitcoin community and although many were expecting the price of BTC to go crazy , not much has changed in the markets .
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SegWit was activated on the Bitcoin network at approximately 2:00 UTC . The first SegWit block was mined by the China-based BTCC pool . The update allows the block size limit to be replaced with a block “ weight ” in which each Witness data Byte is counted as 0.25 Bytes . Given that witness data accounts for nearly half of the transaction size , the SegWit upgrade will allow for a 2x increase in capacity .
Most importantly , SegWit will also fix the tx . malleability bug , paving the way for payment channels like the Lightning Network ( LN ) to be built on top of Bitcoin and allowing off-chain scaling solutions to be persued .
What about the price ?!
So what happened ? Were you also expecting a huge pump / crash ? Well , Bitcoin never ceases to amaze and given the wild volatility we have all grown used to , many were actually surprised to see Bitcoin trade sideways following the update .
Bitcoin has remained fairly stable in the