Will artbyte benefit from its coming SegWit implementation? - page 2.

Someone47

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Quote from: okbit on September 19, 2017, 10:07:58 AM

Quote from: Someone47 on September 19, 2017, 09:57:43 AM

probably not because this coin has such low amount of transaction, if it has segwit or not, no effect at all

in other words just a marketing gimmick trying to pump the price

I have to disagree, if any coin has a real use for SegWit it is Artbyte. Their Roadmap states that deploying SegWit will give them the ability for smart contracts on the ArtByte blockchain (using Lightning network and MAST). This allows artbyte to divide artists income according to rights holders, like musicians. Which is what Musicoin is doing on the ethereum network. But artbyte will be doing smart contracts for all types of artists when they sell their work.

You're right. I understand

okbit

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Quote from: Someone47 on September 19, 2017, 09:57:43 AM

probably not because this coin has such low amount of transaction, if it has segwit or not, no effect at all

in other words just a marketing gimmick trying to pump the price

I have to disagree, if any coin has a real use for SegWit it is Artbyte. Their Roadmap states that deploying SegWit will give them the ability for smart contracts on the ArtByte blockchain (using Lightning network and MAST). This allows artbyte to divide artists income according to rights holders, like musicians. Which is what Musicoin is doing on the ethereum network. But artbyte will be doing smart contracts for all types of artists when they sell their work.

Someone47

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Activity: 146

Merit: 100

probably not because this coin has such low amount of transaction, if it has segwit or not, no effect at all

in other words just a marketing gimmick trying to pump the price

okbit

sr. member

Activity: 259

Merit: 250

Quote from: SL125 on August 31, 2017, 01:18:36 PM

Septemebr is tomorrow, so it won't be long now. Will artbyte implement the lightning network, smart contracts, anonymous transactions, etc. immediately?

The enablement of segwit on the artbyte live blockchain has begun. Artbyte mined its first segwit enabled block on the live blockchain yesterday. So the process has started.

See this post: https://bitcointalksearch.org/topic/m.21983568

SL125

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Septemebr is tomorrow, so it won't be long now. Will artbyte implement the lightning network, smart contracts, anonymous transactions, etc. immediately?

First.Bitcoins

legendary

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SegWit is fully deployed on the ArtByte testnet. We are doing some final testing on the new client and official pool server. SegWit should go live by the end of September.

Update here: https://www.artbyte.me/the-road-to-segwit/

SL125

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What is the status on segwit on artbyte? I have not seen a recent update.

okbit

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Merit: 250

Today, Coindesk ran an article titled, "SegWit Goes Live: Why Bitcoin's Big Upgrade Is a Blockchain Game-Changer". Article here

The article explained how SegWit brings "game-changing" changes to the bitcoin. SegWit will bring these game-changing features to Artbyte as well.

These same features listed in the article apply to Artbyte. From the article:

Here are the key things that SegWit enables:
- It rearranges how data is stored in bitcoin blocks.
- It boosts capacity while remaining compatible with past versions of the software.
- It removes transaction malleability, a bug that's been the primary roadblock for many bitcoin projects...

But the biggest impact is the new technologies SegWit gives access to.

SegWit will boost the development of more forward-looking technologies necessary for bitcoin's mainstream use...

The Lightning Network... and MAST (which enables more complex bitcoin smart contracts), schnorr signatures (which would enable another transaction capacity boost) and TumbleBit (an anonymous top-layer network).

These new technologies, will allow Artbyte to use smart contracts for dividing musician & artists income among various rights holders. Currently this is only available for musicians on some music focused alts running on the Ethereum network. ArtByte will bring it to all types of artists: actors, dancers, writers, painters, photographers, etc.

Yes, SegWit implementation will be huge for Artbyte!

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