what is bip148 uasf and why it i

What Is #BIP148, #UASF And Why It Is Important For The #Bitcoin Network

UASF stands for User Activated Soft Fork. It’s a mechanism where the activation time of a soft fork occurs on a specified date enforced by full nodes, a concept sometimes referred to as the economic majority. A UASF requires a lot of industry support and coordination, which is good practice for eventual hard forks which requires even more industry coordination.

In a few months, beginning 1 August 2017, there may be some turbulence ahead for the Bitcoin network.

Bitcoin Improvement Proposal (BIP) 148 is a User Activated Soft Fork (UASF) that requires that miners signal for Segregated Witness (SegWit). SegWit readiness is signalled by miners by setting the version number of blocks mined.

http://www.uasf.co/

https://www.weusecoins.com/uasf-guide/

 

https://www.youtube.com/watch?v=57UZbE_4WJI

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