| Time | Details |
|---|---|
| 2024-10-22 15:46 |
BitMEX Research Debunks Hard Fork Speed Myth
According to BitMEX Research, the notion that hard forks result in large blocks instantly is a myth. They explain that for a hard fork to support larger blocks, users need to upgrade their systems, similar to the SegWit upgrade. The misconception lies in the assumption of an immediate upgrade for a hard fork compared to a slower process. (Source) |
| 2024-10-22 15:18 |
SegWit Enables Immediate Blockspace Expansion
According to BitMEX Research, while it is possible to choose larger blocks without implementing SegWit, the process is significantly slower. SegWit allows users to independently upgrade their systems, enabling immediate access to increased blockspace without waiting for network-wide upgrades. This can be advantageous for traders looking to optimize transaction speed and efficiency. (Source) |
| 2024-10-22 15:00 |
Market Preference for Larger Blocks Led to SegWit Adoption
According to BitMEX Research, the decision for larger block sizes in the Bitcoin network was driven by the preferences of miners, users, and the market, ultimately leading to the adoption of Segregated Witness (SegWit). This change reflects the community's choice to enhance transaction capacity and efficiency. (Source) |
| 2024-10-22 14:54 |
Miners' Autonomy in Blocksize Decisions and Implications for SegWit
According to BitMEX Research, SegWit represents an increase in blocksize, but miners have the autonomy to choose whether or not to produce larger blocks. This autonomy presents a challenge for all blocksize limit increases, including those executed via a hardfork. This insight is crucial for traders as it affects the scalability and potential transaction throughput of the blockchain, impacting transaction fees and miner incentives. (Source) |
| 2024-10-22 14:43 |
Impact of SegWit Activation on Pre-SegWit Miners
According to BitMEX Research, miners using pre-SegWit nodes face challenges in collecting transaction fees after SegWit activation. To remain competitive and benefit from the economic advantages that SegWit miners enjoy, these miners need to upgrade their nodes. This upgrade allows them to produce blocks larger than 1MB, similar to the adjustments required for a hardfork blocksize increase. This suggests that staying technologically updated is crucial for miners to maximize their profitability in the evolving blockchain environment. (Source) |
| 10:38 |
SegWit and Taproot Adoption in Bitcoin Transactions
According to BitMEXResearch, SegWit has been highly successful, now representing approximately 97% of all Bitcoin transactions, indicating strong adoption and implementation by Bitcoin Core. Additionally, Taproot is gaining traction with over 100,000 BTC currently stored in Taproot addresses, and this number is rapidly increasing. This reflects growing confidence and usage of these Bitcoin protocol upgrades. (Source) |