Activating Bitcoin Segregated Witness is difficult, but Bitcoin Core is still working on it

Golden Finance News - There is one thing about Bitcoin technology that is still being discussed by many people, and that is Bitcoin Segregated Witness, a popular Bitcoin technology announced to the world by the Bitcoin development team Bitcoin Core in 2015.

As time went on, people began to realize that it would be impossible for Bitcoin users with only 25% of miners to reach the 95% computing power requirement required for SegWit. Then we must take a step back and think about who wants Bitcoin SegWit?

According to the survey, the most important reasons why Bitcoin companies and Bitcoin users want to see Segregated Witness activated are as follows:

Segregated Witness is seen as a “first step” and continued innovation in Bitcoin requires the activation of Segregated Witness

You may ask: Do other innovative technologies of Bitcoin such as Schnorr signature algorithm, lightning network and parallel verification all require isolated witness?

The answer from the experts is no. These technologies do not require SegWit.

Bitcoin Segregated Witness can fix some problems in the protocol, and the fixes to these problems will help solve the Bitcoin scalability problem.

Bitcoin Core, the Bitcoin development team, announced the Segregated Witness technology to the world in 2015. Image source: Golden Finance

There were a lot of good ideas for activating SegWit on Bitcoin, but the way it was implemented made it too complicated. This, coupled with the fact that FlexTransactions already does everything SegWit needs to do, but much more concisely, is the main reason why SegWit will never be activated.

Segregated Witness is not a bad thing for Bitcoin because it will solve the scalability problem

The only sad thing is that the team working on activating SegWit on Bitcoin took so long without getting much in return for the work.

Like any mature project, in the Bitcoin space, these projects must be prioritized one by one and then launched in a safe manner. This means that the important things must be solved first.

To be clear, solving the scalability problem is also important in Bitcoin, it’s just not a top priority this year.

Bitcoin insiders have suggested that if the main benefit of solving the scalability problem is the Bitcoin block size, then this problem (Bitcoin scalability) should actually be put on the next priority list, and the main project now should be to prioritize solving the Bitcoin block size problem.