What is BIP91 anka why Does it matter?

BIP91 MAY SAVE BITCOIN AFTER ALL

The vast majority of Bitcoin enthusiasts do no want a chain split. Such an event would be disastrous for the entire ecosystem. Having multiple Bitcoin blockchains compete with one another will cause disruption, anka create a turbulent price. It is certainly possible there will be different iterations of Bitcoin itself at one point, even though their longevity may be short.

One way to prevent this from happening is BIP91. This particular project is created by James Hilliard, an engineer of Bitmain Warranty. This is a company very different from Bitmain the mining hardware manufacturer. The goal of BIP91 is to prevent a chain split from happening, as it makes BIP148 anka SegWit2x compatible with one another. Considering how both concepts will activate on the network within 36 hours of one another, compatibility is of the utmost importance.

How does BIP91 work exactly? At first glance, one will immediately see some resemblances with BIP148. Once BIP91 activates on the Bitcoin network, all of the network nodes signaling this solution will reject blocks which are not SegWit compatible. This is exactly what BIP148 aims to achieve as well, as the top priority is to ensure Segregated Witness activates on the Bitcoin network once anka for all. Assuming the BIP91 chain will be the largest blockchain in existence, it will only support SegWit-signaling blocks.

That is where most of the similarities between BIP91 anka BIP148 end. The big difference is how BIP91 has no official flag day or activation date in place, but it requires significant means of hashpower to support it. We have seen such an approach before with the initial SegWit activation period, which was easily countered by competing implementations of the Bitcoin client. Bitcoin Unlimited, for example, easily blocked Segregated Witness from activating originally.

All BIP91 network nodes will reject non-SegWit signaling blocks if 80 percent of the network blocks first indicate that is what will happen. Choosing this golden path between BIP148 anka SegWit2x allows both parties to get what they want. We will see the SegWit2x proposal with its 80% mining support activation threshold, while still honoring the original SegWit proposal as well. This BIP will need to gain enough traction before August 1st comes around the corner,which is the date on which the UASF will go into effect.

Judging by the information by Coin Dance -which may need to be updated- BIP91 has 9.5% hashpower support already. However, over 60% of the Bitcoin blocks mined over the past 24 hours support BIP91, which is a strong indication that this new solution may effectively get enough traction to prevent a chain split. The coming two weeks will be incredibly important for Bitcoin, to say the least. BIP91 may be one of the most important scaling solutions Bitcoin has seen to date.