Marwarisingh posted: " Quick facts about the day. . On August 01, 2017, the Bitcoin community was scheduled to initiate the networks first user- activated soft fork( UASF). . UASF is a mechanism where the activation time of a soft fork occurrs on a specified date enforce"
. On August 01, 2017, the Bitcoin community was scheduled to initiate the networks first user- activated soft fork( UASF).
. UASF is a mechanism where the activation time of a soft fork occurrs on a specified date enforce by full nodes.
. The threat of UASF brought un end to the scalling debate in Bitcoin. This resulted in the big-block Propenents hard forking several months later.
. The day was dubbed Bitcoin independence day to mark the sovereignty of the community consensus.
UASF was crucial to the activation of SegWit.
. SegWit, also known as Segregated Witness, is the process to better scale Bitcoin Blockchain. It involves removing signature data from Bitcoin transactions.
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