Executive Director of the Bitcoin Foundation: BTC price has increased by as much as 60%, and the implementation of isolated verification will bring more surprises

This year, the Bitcoin market has performed extremely well. The executive director of the Bitcoin Foundation believes that this top digital currency will bring us more surprises in the remaining two months of 2016, especially after November 15 (after the vote on the segregated verification soft fork) .

Llew Claasen told CoinTelegraph that after November 15, miners will vote on the innovative scaling technology隔离验证（Segwit） . He expressed confidence that Bitcoin will end 2016 on a good note.

He said:

Amidst the opposition to on-chain scaling, Segregated Witness was finally released in Bitcoin Core 0.13.1. The long-awaited Segregated Witness is a positive development for Bitcoin. I think after November 15th, Bitcoin will move in a more positive direction, which will be a perfect end to 2016. This year, Bitcoin's value has increased by 60% , far outperforming fiat currencies.

At the same time last year, the price of Bitcoin was around 400美元, a 75% increase compared to this year. Bitcoin has survived many difficulties, including attacks, various ICOs, the emergence of new competing coins, the block reward halving, and disagreements within the community on transaction capacity, and has emerged stronger.

Segregated Witness

Segregated verification separates the transaction signature from the initial transaction data, allowing miners to perform verification outside the traditional block architecture, thereby achieving the goal of rapidly increasing block transaction data and eliminating third-party transaction ductility.

According to Bitcoin Core, the protocol will also make it easier to add new features to bitcoin, improving the efficiency of full nodes in the long-term interests of the system.

So far so good

Claasen said that the attention paid to blockchain technology by various industries this year has also had a positive impact on the development of Bitcoin.

According to the Gartner Hype Cycle ^[1] , Bitcoin was at the trough of disillusionment in 2016, while blockchain was at the peak of inflated expectations. Things look good. Is Bitcoin ready to go mainstream? No. Is Bitcoin rapidly transforming into a mainstream currency and bringing about huge changes? Is Bitcoin currently in the early promotion stage of mistakes, which brings risks? Yes.

Notes (↵ returns to text)

1. The technology maturity curve, also known as the hype cycle, refers to a tool used by companies to evaluate the visibility of new technologies and use the timeline and market visibility (media exposure) to decide whether to adopt new technologies. ↵