With technology, almost everything tends to shift. Financial transactions, for that matter, cannot be an exception. After the internet stole the show in the technology-savvy society, bitcoin entered the scene as a digital currency. Bitcoin users are a growing population. One of the latest apps introduced to Bitcoin users is Samourai, a digital wallet built to protect the privacy of financial transactions and the users identity. Privacy activists from various walks of life constitute the team who produced the Samourai wallet. They recently initiated an awareness program to support SegWit – short for Segregated Witness – on their Samourai platform. This call surfaced as a result of the prediction that miners would turn down the soft-fork on unfounded grounds.
What is the role of a miner? Bitcoin mining involves adding transaction records to a public ledger maintained to keep a history of transactions. This ledger is commonly known as the blockchain. The blockchain is useful especially when bitcoin nodes are used to cross-check transactions. The nodes inquire whether a transaction is genuine or a mere re-spending of coins already utilised somewhere else.
Any transaction shall have three major elements: sender, recipient and signatures. In the digital sphere, this consumes space. SegWit’s solution to this is to increase the current 1MB block size limit to four million units of block weight. That moulds kind of a revolution for the digital currency.
If miners would not accept the new solution, the team at the Samourai Wallet goes on to mention that they would continue to persuade bitcoiners to take a firm stand and activate SegWit. The team added that the Samourai Wallet nodes also look forward to BIP148 and user-activated softforks (UASF).
BIP 148 is a program proposal forwarded by the Samourai team. It has been introduced with the objective of promoting and improving the