SegWit2x
SegWit2x was a pivotal and instructional moment in Bitcoin's history. There was an upgrade to Bitcoin's protocol that would fix bugs (like transaction malleability) and more easily enable higher layer function on top of Bitcoin, such as the lightning network. However, while implementing this upgrade, there was a kind of "deadlock" among the parties in the Bitcoin world. In this time, Bitcoin's different stakeholders learned new things about how Bitcoin's network truly operates. The question was: do miners control Bitcoin? Or, do users and nodes control Bitcoin? What is the role of developers? Read this article and watch the accompanying video to learn more.
Bitcoin Magazine Presents the History of Bitcoin Independence Day
SegWit2x marked a significant moment in Bitcoin's history, offering insights into its evolution. The protocol upgrade addressed bugs like transaction malleability and facilitated higher-layer functions like the lightning network. However, its implementation led to a deadlock among Bitcoin's stakeholders, revealing crucial aspects of the network's operations. For a detailed exploration of this pivotal event, watch this video discussing Bitcoin's "deep history." It covers common questions like the significance of SegWit2x, the rationale behind limiting block sizes, the concept of the "real Bitcoin," and the dynamics of consensus changes within the Bitcoin ecosystem.
This video was provided to Saylor Academy with the permission of Bitcoin Magazine. You can find the original work at https://www.youtube.com/watch?v=ui9JwnB1d-k.