Coinbase’s CEO Calls for Segwit Activation

Brian Armstrong, CEO and co-founder of Coinbase, has called for the activation of segwit, a controversial protocol update of the bitcoin network which adds further transaction capacity while largely fixing transaction malleability to pave the way for the Lightning Network.

Armstrong stated segwit is “prob[ably] the best path forward for bitcoin at this point,” before calling on everyone to “come together and move forward as an industry. Activating SegWit can help us get there and it has a number of good features.”

His statement was in reply to Charlie Lee, Litecoin’s founder and Director of Engineering at Coinbase who publicly asked to “activate SegWit! Maybe not the full scaling solution you want, but it does a ton of good stuff today and enables lightning networks.”

Washington Sanchez, Co-founder of Open Bazzar, an e-Bay like bitcoin market, stated Armstrong’s changed stance was “disappointing,” but few will find the shifting attitude as surprising.

After almost two years of heated debate on how to increase bitcoin’s transaction capacity, no proposal has yet been adopted, with most losing interest

Read more ... source: CryptoCoinsNews

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