The World’s Third Largest Bitcoin Mining Pool Has Said YES To SegWit For Bitcoin!
After the weeks of deliberation, the F2Pool has made its verdict to finally support the Bitcoin Core’s Segregated Witness or the SegWit on both Bitcoin and Litecoin. On 14 April, this year, on Friday, the owner of the F2Pool, Wang Chun has declared that the outcome of an internal survey conducted mongstalong with its miners. He revealed that there are 56% of the miners right within the F2Pool mining network were in favor of the SegWit.
In Consideration of its miners and their support the SegWit, Wang Chun and the rest of the F2Pool mining team deemed that the signaling of the SegWit would be the preferable assessment for both the organization and the Bitcoin community. More significantly, Wang Chun did not desire for the entire community to go down the path of a user-activated soft fork which fundamentally eliminates the authority of the miners in the SegWit activation procedure.
The former BTCC Executive and BlockStream CSO, Samson Mow has claimed that Wang Chun and the entire F2Pool team has made a clever decision by choosing to signal the SegWit, as it further strengthens their opposition to the UASF and appeals right into the Bitcoin community. As he said that Wang Chun is an intelligent man. And the SegWit will not activate without the AntPool, ViaBTC, BTC.TOP, GBMiners, BitClub, CANOE and Bitcoin.com so at the same time Wang Chun can signal and establish his opposition to the UASF.
One of the major reasons why the mining pools like the F2Pool are against the UASF is just because the mechanism allows the node operators without the presence of the miners and their hashrate to activate a soft fork by a fixed date. For example, a UASF as noted in the Bitcoin Improvement Proposal 148 would only activate the SegWit by the 15th of November; if the SegWit garners an enough support from the community. And in the view of the mere fact that the UASF utterly disregards the full authority of the miners, mining pools and the companies like the F2Pool are opposed to the particular mechanism.
Along with Wang Chun’s early statement last 15th of April, this year, Saturday, the F2Pool was already on track to mine the SegWit blocks. And if the pool allows its full hashrate support the SegWit which according to its sources is nearly at its 9%, the SegWit’s miner support would most likely surpass the 30% within this month.
Wang Chun and the F2Pool’s unexpected verdict to support the SegWit came only the duration of four days after the pool owner’s strong opposition to the SegWit on Bitcoin. On the 12th of April, he wrote that the SegWit will be a debacle; and that he is not going to support it on Bitcoin due to the fact that he is a Bitcoin holder. And he had tried his best to fully love the Core. But the Core does not love him back. And now, he fully knew that Charlie Lee has a backup plan and it has been called the UASF.
It is clearly uncertain that whether the F2Pool is beyond doubt trying to seek out for the best interests of its miners and the entire community or if signaling the SegWit is the optimal means of rejecting the UASF.
Read more: https://www.xmlgold.eu/en/news/article/595/The_World%E2%80%99s_Third_Largest_Bitcoin_Mining_Pool_Has_Said_YES_To_SegWit_For_Bitcoin%21/
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