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Showing posts from December, 2017

What is SegWit1X?

SegWit1X is the term for the cryptocurrency known as BTC in trading circles. In the past, BTC was known as Bitcoin; however, after BTC Core developers introduced Segmented Witness (SegWit), the currency took on qualities that made it very different from what was envisioned in the original Bitcoin whitepaper of Satoshi Nakamoto. Today, the real Bitcoin is known as Bitcoin Cash , known on exchanges as BCH or BCC.  It is this cryptocurrency that was envisioned by Nakamoto in his whitepaper. In summary: SegWit1X = BTC Bitcoin = Bitcoin Cash = BCC = BCH * The title of the whitepaper is "Peer-to-Peer Electronic Cash System." As of 2017, after introducing SegWit and Core's defense of high transaction fees and long confirmation times, BTC no longer serves as a P2P Electronic Cash System.