F2pool officially supports SegWit

Eight years have passed, and Bitcoin has developed rapidly. Today, the price of one Bitcoin has exceeded $1,200 and is close to the price of one ounce of gold, attracting attention from all over the world. Central banks in various countries have begun to study Bitcoin and the technology behind it.

But the process of growth is inevitably accompanied by troubles. As more and more people use Bitcoin, the number of transactions on the Bitcoin chain has exploded, but every 10-minute block can only carry about 3,000 transactions, which is far from meeting the needs of users. Transactions often go unconfirmed for a long time, causing complaints from users.

In this case, Bitcoin needs to be expanded, and developers have proposed a variety of solutions. The debate on how to expand the Bitcoin network has lasted too long, and the time for standing still has been too long.

This debate has never been a multiple-choice question. It is not about choosing one of SegWit, BU or other solutions to expand capacity. We at F2Pool have always supported SegWit + large blocks. SegWit can solve some technical problems and bring some benefits. Large blocks are also beneficial to the long-term development of the Bitcoin network. However, the reality is not perfect. The results of the current game between the parties have not yet reached the point where SegWit + large blocks can be realized.

We have seen the strong demand from users for the expansion of the Bitcoin network, and we have also seen that many users at home and abroad support SegWit. We can no longer stand still. We need to continue to promote the development of Bitcoin together with users. It is time to take a step forward. Technically, there is no problem with SegWit. We can activate SegWit first, and the discussion of large blocks will be left for later research. I believe that by then, there will naturally be a result. Bitcoin will continue to evolve. Let us witness the miracle of Bitcoin together.

April 18, 2017

https://www.f2pool.com/page/f2pool-support-SegWit