- iSDaily Wednesday – February 21st, 2018 – Episode 033
On this episode of iSDaily Wednesday with The One True Niz and Paul Gordon, On NewsFire, California's Pro Mass Shooter Law On Skynetter, Getting Road for Robo Army Merica On Liberty Tech, Blockchain Banking Thanks to Amanda [...]The post iSDaily Wednesday – February 21st, 2018 – Episode 033 appeared first on iState. […]
The upcoming Bitcoin Fork may see chains that produce low hashrates may not survive the Segwit2x fork.
From Bitcoin News
Over the next two weeks, bitcoin proponents from both sides of the scaling debate will be preparing for a possible hard fork. A lot of people believe the Segwit2x fork will be entirely different than August’s bitcoin cash fork, and for good reason.
One of the biggest reasons for Segwit2x uncertainty is the amount of hashrate indicating support towards upgrading the block size to 2MB. Right now over 84.9 percent of the Bitcoin network’s miners are signaling their intentions to support Segwit2x. The question many people are asking is what will happen to a minority network with very little hashrate and no emergency difficulty adjustment?
There are quite a bit of bitcoiners that are enthralled by the drama between Core supporters and Segwit2x supporters. There’s the fighting about replay protection, and calling Segwit2x a corporate “takeover” or an “attack” by Core developers, some whose businesses are also ironically funded by venture capitalists and corporations. Then there’s the biggest question of all — Which is more powerful? Miners or those of us running full nodes. The topic often revolves around game theory and discussions about what could happen when the hard fork takes place.
If over 80 percent of the hashrate decides to fork away from the rules implemented by Core software, then it might leave the minority chain with very little hashrate. A minority chain with a minuscule amount of hashrate that goes up against bitcoin’s current difficulty will have a tough time surviving. It means that the hashrate minority will have to wait for 2016 blocks until the difficulty can be adjusted. With no mining power, a chain in this state facing bitcoin’s difficulty could very well come to a screeching halt.