There can still be a split from what I understand, however that should not be of any real concern since it would be similar to Ethereum classic where a small % of supporters would would end up creating a bitcoin type altcoin which would have its own identity and blockchain.
lol boop crappy shed :D I'ts still pretty technical for my old brain but this made it alot more accessible. I am studying as much as I can about the blockchain, segwit, etc. Thanks for the breakdown!!!
Yea. It's still pretty technical. Basically in a nutshell its an update that takes incorporates the wants of two groups and combines them allowing the overall update which was initially getting stuck due to low number of supporters and pushing it forward without causing a major split ending up with two coins fighting for the #1 spot in the cryptocurrency world.
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Wow, great read! I really appreciate you taking the time to write this. Helped me a ton and going to share article with a Meetup group of mine. Thanks again!
" Backwards compatability " sounds technical to me hehehe but my brain understood this situation because of the way you explained it . Nothing to do but wait and see what happens then.
Now for Ethereum to solve it's scalability problems that all of the ICO hype exposed. Come on Vitalek, it's been years, we know u ain't dead buddy!
Thank u for breaking down this complicated situation. It appears SigWit is well underway and will proceed.
Are their other concerns going forward?
There can still be a split from what I understand, however that should not be of any real concern since it would be similar to Ethereum classic where a small % of supporters would would end up creating a bitcoin type altcoin which would have its own identity and blockchain.
lol boop crappy shed :D I'ts still pretty technical for my old brain but this made it alot more accessible. I am studying as much as I can about the blockchain, segwit, etc. Thanks for the breakdown!!!
Yea. It's still pretty technical. Basically in a nutshell its an update that takes incorporates the wants of two groups and combines them allowing the overall update which was initially getting stuck due to low number of supporters and pushing it forward without causing a major split ending up with two coins fighting for the #1 spot in the cryptocurrency world.
Thanks for taking the time to further explain!!
Sure thing
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I'm a jon snow when it comes to crpyto and this post is very helpful. Thanks for the breakdown. Upvoted and resteemed.
Sure anytime. Thank you for your support. It can be confusing for many of us.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by cloh76 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
Very good and interesting post. thankyou @cloh76 .
Thanks hdmed!
Wow, great read! I really appreciate you taking the time to write this. Helped me a ton and going to share article with a Meetup group of mine. Thanks again!
Thanks for the support. I hope it helps your meetup group as well!
This post has received a 7.37 % upvote from @booster thanks to: @cloh76.
" Backwards compatability " sounds technical to me hehehe but my brain understood this situation because of the way you explained it . Nothing to do but wait and see what happens then.
Yep. It's all a waiting game. It will turn out good I assume