The ongoing debate regarding scaling bitcoin continues unabated. More and more companies are publicly showing support for the bitcoin UASF. The latest additions to this list are prominent companies, including Coinkite and Abra. It is evident the bitcoin world needs a SegWit-based scaling solution, as that is what the economic majority clearly wants.
Over the past few weeks, there have been a lot of scaling discussions. SegWit, Bitcoin Unlimited, BitcoinEC, Extension Blocks, and SegWit2MB are just some of the proposed ideas. Most of these solutions pave the way for the Lightning Network, which is positive to see. Bitcoin microtransactions can play a big role in bringing cryptocurrency to mainstream consumers and businesses.
UASF Support Continues To Grow Quickly
A lot of companies are now signaling for the bitcoin UASF. Chinese miners continually oppose SegWit adoption, yet the service providers have not given up yet. Ever since BIP148 became a possible solution to activate SegWit in a non-traditional manner, a lot of people saw it as the perfect solution. BIP148 requires miners to activate existing SegWit deployment. Considering how close to 80% of the network has upgraded to SegWit-capable software, this should not be a big problem.
One could argue all of the companies should support UASF directly. However, doing so requires a new deployment and nodes to upgrade their software again. In this regard, supporting BIP148 is a more sensible idea, although it still counts as UASF support. In fact, a lot of companies are taking the BIP148 route to signal support for the UASF right now. That list continues to grow on a nearly daily basis as well.
Coinkite and Abra are now officially supporting the UASF. Both companies are well-respected in the bitcoin community. This lends more credibility to this proposal and will hopefully get it activated faster. Abra pledged its support on Twitter for the entire world to see, which is quite significant. A public statement on where companies stand is always better than a secretive attitude, that much is certain.
yes, we're on board. cc @lightcoin
— Bill Barhydt (@billbarhydt) April 11, 2017
— Coinkite (@Coinkite) April 11, 2017
Coinkite took a similar approach, as they issued public support for the UASF on Twitter as well. It is good to see companies publicly support this pro-SegWit solution right now. Support for Bitcoin Unlimited continues to dwindle slightly, even though they never had any major economic support, to begin with. It will be interesting to see how things play out in the long run, though.
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