August Development Update
We are now quite a bit past the initial release estimate for PoW² and while we are almost ready for release we are still not quite there yet.
Understandably some are quite anxious to see the release happen, as we ourselves are too, however good development cannot be rushed so we must be patient for a bit longer.
As we understand that it can be more difficult for those outside the project without the knowledge that we have on the inside of what is going on, and that in the absence of this information some start to assume the worst, we thought we would give a bit more information to those that are waiting.
Sequence of events
I) SegWit – Oct 2016
As some of you may know ‘SegWit’ has been a long ongoing argument in the Bitcoin community for quite some time now.
It first came onto the Gulden radar when we released 1.6.0 last year, with quite a lot of people questioning whether we would activate it etc. – at the time we updated our codebase to contain SegWit but stopped short of activating it.
I don’t want to get into a massive discussion on this but at the time our reasoning for not activating SegWit was as follows:
1) There was no immediate pressing need for us to do so.
2) It was unclear whether it would ever activate for Bitcoin themselves in its current form or whether they would eventually give up and implement it differently.
3) The current implementation of SegWit as done by the Bitcoin team was non-optimal – for our use case.
While we can understand why the Bitcoin team did SegWit the way they did with a focus on backwards compatibility at all costs (even though there is argument to be had that perhaps they should have done it differently).
We don’t believe…