Self-proclaimed Satoshi Nakamoto Craig Wright is back in the spotlight, voicing opposition for activating Segwit and promising a new mining pool to prevent its activation.
Segregated Witness, or Segwit, is an upgrade to the Bitcoin code that was created by Bitcoin Core during the more highly controversial moments of the recent scaling fight. Craig Wright, Australian entrepreneur who claims to be Bitcoin’s enigmatic founder Satoshi Nakamoto, during a recent appearance at the Future of Bitcoin conference called to Segwit to be stopped. He also announced his company nChain will launch a mining pool to this end, supposedly comprising 20% of the network’s mining hashpower. Combined with the last Emergent Consensus levels of over 40%, this could theoretically be enough to hard fork the network.
Split uncertainty persists with Bitcoin
This new development further increases the likelihood of a chain split as a deeply fractured community only recently came to a compromise, one that is far from universally-accepted, including a significant faction that would be sympathetic to Wright’s cause. Bitmain and Bitcoin.com have expressed opposition to Segwit activation, instead advocating for simple block size increases, and agreed to the compromise grudgingly. A renewed push from the big block angle could potentially cause the deal to fall apart.
Meanwhile, the struggle over Bitcoin’s future remains with the two existing camps not having come to agreement with how to scale the coin. The Segwit2x group, representing a compromise reached by over 50 companies and over 80% of the network’s mining hashpower, is set to release the code for its implementation soon. It currently claims 85% of blocks mined signaling support for this proposal. Meanwhile, support for the version of Segwit put forward by the Bitcoin Core team ranks it at 45%, backed by the user-activated soft fork plan proposed proof-of-work changes to reshuffle mining power.
Dash Evolution moves forward with Satoshi’s vision regardless
Whichever way Bitcoin’s future goes, Dash will continue to follow, and improve upon, Bitcoin’s original vision. Dash’s digital cash goal lines up with the title of Satoshi’s whitepaper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” and pursues the same vision: a censorship-resistant peer-to-peer digital cash to provide the masses with true financial freedom. To that end, Dash already maintains a decentralized governance system that allows the Core team to be fired if necessary, a strong and secure network, and instant cheap transactions, as well as never-broken privacy.
In the future, Dash will improve on this model by making all aforementioned features much easier to use under an efficient, seamless Evolution interface. As part of its dedication to on-chain scaling, Dash will grow its network capacity to support over 4,000 transactions per second. In order to support this level of scaling, Dash will expand to a proof-of-work/proof-of-service hybrid combining masternodes and miners, including the production of specialized hardware built for masternodes to enable this level of scaling.