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By Halans on 2014-03-15 14:23:09
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Adam Back to Jihan Wu: SegWit Not ‘Complicated,’ Fixes Satoshi’s Bug
Hashcash inventor Adam Back has said Segregated Witness (SegWit) “fixes” an original bug in bitcoin from creator Satoshi Nakamoto.
Back: SegWit ‘Fixes Satoshi Bug’
As part of a Twitter exchange Friday, Back rebuffed criticism from bitcoin Unlimited proponent Jihan Wu, demonstrating how SegWit is beneficial to the virtual currency’s core protocol.
Wu, who is a co-founder of mining conglomerate Bitmain, had said that the technology would make the network “more complicated.”
“SegWit is not more complicated,” Back wrote.
“It fixes Satoshi’s bug that txid=H(tx,sig) to txid=H(tx) this is not complicated, and it is necessary to fix.”
SegWit is not more complicated. It fixes Satoshi's bug that txid=H(tx,sig) to txid=H(tx) this is not complicated, and it is necessary to fix
— Adam Back (@adam3us)
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What’s more, if implemented, SegWit can can actually help reduce the so-called “technical debt” burden of complicated code albeit having its own tradeoffs, which are assessed .
The segwit code has been heavily reviewed, which helps resist the introduction of technical debt at both a code and design level…Segwit has multiple independent reimplementations, which helps discover any unnecessary complexity and technical debt at the point that it can still be avoided.
SegWit: Complicated & Straightforward
Wu’s stance echoes a broader opinion from the Chinese community in particular that SegWit creates unnecessary complexity within bitcoin.
In an with Bitcoinist this month, for example, Leon Liu, CEO of P2P trading service Bitkan, said that this was a reason why the technology “is not the best solution for bitcoin scaling.”
“Segwit will not be the best solution for bitcoin scaling, it will make the bitcoin network more complicated,” he stated.
At the same time, efforts have been made to allay such fears, Blocktrail CTO Ruben De Vries last year that SegWit “is not very complicated if you already know the ins and outs of the bitcoin protocol.”
Back meanwhile has praised attempts at educating the wider community on the nature of scaling solutions without resorting to ‘political’ siding.
An on SegWit by Andreas Antonopoulos garnered considerable praise, Back describing it as “the best he’d seen on the topic.”
On its benefits, Antonopoulos wrote in the blog post, which originally came out in August last year:
“Firstly, segregated witness reduces the overall cost of transactions by discounting witness data and increasing the capacity of the bitcoin blockchain.
“Secondly, segregated witness’ discount on witness data corrects a misalignment of incentives that may have inadvertently created more bloat in the UTXO set.”
Litecoin Bounce on SegWit Rumors?
SegWit is traditionally considered ‘complicated’ compared to merely increasing the bitcoin block size, despite the latter requiring a hard fork of the virtual currency.
Currently, the proposal is still behind bitcoin Unlimited though both need at least 95% to activate.
Outside the bitcoin debate, surfacing that Litecoin is to activate SegWit may have led to a surprise expansion in value of the altcoin by around 30%.
What do you think about the contrasting opinions on SegWit? Will it add complexity to bitcoin? Let us know in the comments below!
Images courtesy of Shutterstock, Twitter
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Euro overtakes JPY in BTC-to-fiat trading; USD surges to take majority |
Euro overtakes JPY in BTC-to-fiat trading; USD surges to take majority | Euro overtakes JPY in BTC-to-fiat trading; USD surges to take majority | ⋆ Crypto New Media Home 2019 May 22 News Euro overtakes […]
Aston Shakes Up Document Distribution Industry With Launch Of ICO & Next Generation Fully Automated Document Distribution Platform Based On BlockChain Technology
Everyone at one time or another has had this common problem; Documents not getting to where they need to be on time. Whether it was late Mortgage Docs causing a delay in closing, late prescriptions to pharmacies causing painful wait times or even patient docs being delivered to hospitals late; These issues can cause irreparable damage. Aston’s new Auto Document Distribution Platform based on Blockchain Technology makes waiting a thing of the past.
[Note: This is a press release.]
Los Angeles, CA – Nov 19, 2017, Aston made headlines this week with the announcement of a fresh ICO based on a Next Generation Document Distribution Platform that they have developed. ASTON is a completely decentralized document authentication platform which has been built on X-chain, a better version of conventional . ASTON streamlines the authentication of digital documents making hard copies of sensitive documents and trusted third-party institutions relics of the past.
[vimeo 242553099 w=500 h=281]
This Initial Coin Offering is highly anticipated not only because of the merits of the ASTON Platform but also because of the team behind ASTON. The team at ASTON has several achievements under their belt, with the most notable being the Medical Proof Certification that enables hospitals to issue and retrieve documents to/from patients to fill out via Smartphone. In this case, the Blockchain Technology eliminated the problem of storing and securing sensitive information. Aston is currently partnered with over 90 Hospitals in Korea that have adapted this pilot medical certification service. Another notable achievement of Aston is Doorian, the first blockchain-based mobile FinTech platform in Korea.
During a recent seminar, the company spokesperson for Aston was quoted as saying, “We are extremely excited to introduce this new Document Distribution Platform to the market. Hospitals, Banking Institutions and Governmental Organizations are just a few that will be adopting this technology in the near future. It wouldn’t have been possible to have such success with our ICO Launch without the support from so many players in multiple industries. This ICO is going to be one for the record books and we can’t wait to see consumers benefit from it by getting their documents where they need to be at the speed of light!”
This highly anticipated ICO is set to launch on December 11, 2017, and current market demand indicates that this will be a sold-out event. As with any opportunity, it is important to get in early while the discounts and bonuses apply, as the ICO’s maximum profits will be achieved by entering into it during the Pre-Sale. The Pre-Sale will begin on December 6, 2017, and all investments during this period will receive a 30% Pre-Sale bonus. Pre-Sale is set to close on December 10, 2017, at which time the ICO will Launch and will be open to the public.
To learn more about investing in this ICO or to learn about how companies are adopting the Aston technology, visit their official website at or read their Whitepaper directly by .
Media Contact: tack@aston.company
Aston
Attn: Media Relations
Seoul, Korea
Ph: +82-2-6332-2245
aston@aston.company
Images courtesy of Aston
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