So, voting on core’s implementation of Segwit is now enabled, and all 3 of the miners that support core have already cast their vote (2 pools and 1 cloud mining MLM), totalling about 23% of the network. Adoption seems to have stalled (as of 4Dec16) as the rest of the undecided vote remain undecided. Perfect time for an analysis breakdown of segwit, the good, the bad, and the ugly.Segwit has been called a ‘much needed upgrade’ to the network by core proponents, which has a somewhat jury-rigged way of expanding the effective block size of a block. (to 1.7mb)
Let’s first cut through all the marketing jazz and spin that people supporting Blockstream want to put on it and evaluate it on its technical merits alone, addressing its first its pros, then its cons.