A Lightning Network developer has allayed fears lack of consensus on Bitcoin would cause “destruction.”
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UASF News
UASF stands for a User Activated Soft Fork. It’s a process during which the activation of a soft fork happens on a certain date which is defined by all the nodes of the network. This idea requires a lot of support and coordination from the crypto industry, meaning that the fork can only be initiated if there is an ‘economic majority.’ The main feature of UASF is that the activation of the fork can occur without the support miners. Such forks are supported by exchanges, wallets and other companies that have the support of the majority of nodes in the network. All UASFs still exist only on paper because they need more complicated and longer preparation, and if miners don’t like the update, they can utilize their computer power, which can lead to hard fork. More information about UASF, explained processes or UASF guides can be found here on Cointelegraph.
Samourai Wallet, one of the most innovative privacy-focused wallet service providers in the market, intends to run Bitcoin Improvement Proposal BIP 148 until SegWit is activated
19467As some in the Bitcoin community suggest, we could see at least four Bitcoin networks or even five, and then there are overlays such as Lightning.
30581Marc Kenigsberg, CEO of Jamworx thinks the recent Bitcoin price dip is a minor retreat from the highs of 2017.
39711After a major market correction which sent bitcoin price from its all-time high of $2,973 to $2,261, bitcoin price has stabilized at the $2,700 region.
60151Bitsquare’s founder has said it is committed to UASF support, and would halt trading until the hard fork fallout becomes clear.
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