Segwit2x developers: Bitcoin upgrade at block 494,784

Segwit2x developers confirm that the Bitcoin upgrade is to happen at block 494,784
17 August 2017   2070

Segregated Witness support has been locked-in as a soft fork expected to activate around August 23rd, 2017 (block height 481,824).

Now Segwit2x developers confirm that the Bitcoin upgrade is to happen at block 494,784.

During the month of November 2017, approximately 90 days after the activation of Segregated Witnesses in the Bitcoin blockchain, a block between 1MB and 2MB in size will be generated by Bitcoin miners in a move to increase network capacity. At this point it is expected that more than 90% of the computational capacity that secures the Bitcoin network will carry on mining on top of this large block.
 

Jeff Garzik
Segwit2x developer

According to the report, the November 2017 upgrade to 2MB blocks is a hard-fork, but necessary changes are trivial to perform. Some SPV clients are expected to work without any change at all. Most clients will need to tweak only two constants to remain compatible with the new larger blocks:

For SegWit-compatible clients:

  • Maximum block weight doubles from 4,000,000 to 8,000,000
  • Sig-ops per block doubles from 80,000 to 160,000

For non-SegWit-capable clients:

  • Maximum base block size doubles from 1,000,000 to 2,000,000
  • Sig-ops per block doubles from 20,000 to 40,000

Both types of clients should add new DNS seeds:

  • BitPay: seed.mainnet.b-pay.net
  • OB1: seed.ob1.io
  • Blockchain: seed.blockchain.info
  • Bloq: bitcoin.bloqseeds.net

Testnet5

For testing purposes, a new Testnet5 network that builds on the same Genesis block as the existing Testnet3 network has been created, as the report claims. In order to update a client for compatibility with Testnet5, do these changes to existing Testnet3 settings:

  • Port changes from 18333 to 18555.
  • Network magic changes from 0x0b110907 to 0x6e657400
  • BIP-34, BIP-66, BIP-65 and single checkpoint all refer to the block at height 10001 with hash 00000000fb7c0a2aeb5f1244e81921b84b7ac770004543144e10c2284f89bfd8
  • DNS seeds are available at seed.testnet5.b-pay.net and bitcoin-testnet.bloqseeds.net

Block size/weight and sig-ops changes above also apply to Testnet5.

Compatible Fully-Validating Node Software

Incompatible Fully-Validating Node Software

Coinbase to Expand Services for Asia

Among the services available now there are Coinbase Prime, Pro and Custody
22 January 2019   120

Coinbase, the leading US cryptocurrency company reported that from now on its professional trading and custodial platforms are available to institutional clients and investors with large volumes from the Asian region.

In particular, according to the Coinbase blog, users of Asia will have access to the option of depositing accounts and withdrawing funds using SWIFT transfers through non-US bank accounts.

In the past 12 months, hundreds of crypto-first hedge funds have launched around the world, and many hundreds more traditional institutions such as proprietary trading firms, family offices and endowments have begun actively trading digital assets. Coinbase’s suite of professional products — Coinbase Prime and Pro, Coinbase Custody — serves these customers, along with other participants in the market, like asset issuers, crypto exchanges, and miners.
 

Elliott Suthers

Coinbase

Among the services available there are Coinbase Prime, Coinbase Pro and Coinbase Custody, which also supports the steamer USDC.

In December 2018, Coinbase began to provide services to residents of the islands of Guernsey and Maine, as well as Lithuania, Iceland, Andorra and Gibraltar.