If activated, the change would ripple out to the rest of the ecosystem of wallets and software projects, and users on the network could begin to take advantage of the update.
On the other hand, other mining pools have shown eagerness to make the upgrade, with Slush signaling support for the change early (despite the alleged dangers of doing so) and BTCC indicating that its mining pool is "ready" for SegWit.
Bitcoin miners can now show their support for a long proposed technical update that would boost the network's transaction capacity.
With miners ViaBTC and Bitcoin.com reaffirming their intent to block the update in recent statements, their combined hashing power (roughly 8%), means there's chance the threshold won't be reached.
Green light image via Shutterstock
Called Segregated Witness (SegWit), the change is best known as a way to scale transactions on the bitcoin blockchain by carving out more space in each block, though it also solves a long-known major bug and expands the software in a few other notable ways.
As coded in the latest bitcoin software release (0.13.1), 95% of miners need to signal support for the change in a series of 2016 blocks, or a period of roughly two weeks. If that happens, there will be another two week period before SegWit is officially activated.
Bitcoin Core, the volunteer group behind the most popular bitcoin software, released a graph that shows the total, estimated hashrate flagging support of SegWit at any given time (as indicated by the red line).
Bitcoin ProtocolMining PoolsScalingSegWit
According to the coded rules, miners have one year to reach the near-unanimous threshold before the change times out.
But not everyone supports the change (one observer even called the signaling period the beginnings of a "dirty war").
Others may not be technically prepared to make the change quite yet.
F2Pool said in an email that the mining pool cannot signal support in the "near future" because their system isn't upgraded to the correct version of the programming language C++.
Following block 439,488 on the bitcoin blockchain (which occurred at roughly 8:30 UTC today), miners can now upgrade their software by changing a header value in the blocks that they process.
CoinLoan Crowdsale to Start Soon. Should You Subscribe?
CoinLoan is an innovative project designed to integrate the traditional banking system with modern cryptocurrency technology. It offers an affordable solution where users will be able to receive real
Amazon Will not Accept Bitcoin Payments Anytime Soon
A lot of people are excited about the news involving Amazon and Bitcoin payments. Some sources claim the company will enable cryptocurrency payments soon While that is an interesting opinion, it is
Cryptocurrency Trading Volume Set to Surpass Apple Stock: Market Strategist
Stock market strategist Jens Nordvig predicts that daily cryptocurrency trading volume will “soon surpass” that of Apple, the most-traded company stock.
Nordvig, the founder and CEO of Exante Data
DOVU to Participate in Jaguar Land Rover Hackathon
DOVU, the blockchain transport data initiative, will showcase its software at the forthcoming Jaguar Land Rover Developer Challenge, to be held in Slovakia at the end of the month. The hackathon
SimplyVital Health Pioneers Blockchain Healthcare Ecosystem
Reliable access to patientsâ medical information is a prerequisite for timely and effective healthcare, but the confidential nature of personal data means that healthcare providers often operate
Nine in Ten Chinese ICO Projects Have Reimbursed Investors
The cryptocurrency ICO sector is undergoing some major changes in China. Due to the recent crackdown, a lot of companies are forced to reimburse investors. A very tedious process, although there is
Bitcoin Price Rises by 5% to $3,740 as the Cryptocurrency Market Gradually Recovers
Today, on September 23, the bitcoin price increased from $3,600 to $3,738, recording a daily increase of 4.88 percent. At today’s peak, the bitcoin price surpassed the $3,800 mark, showing signs of re
Nebraska Ethics Board: It’s Okay for Lawyers to Accept Bitcoin
Lawyers in Nebraska have been given the green light to accept bitcoin payments, according to a Nebraska ethics advisory committee.
Established by the state’s supreme court, the Lawyer’s Advisory Co