Post by RyanICNN on Jun 28, 2017 12:05:13 GMT -5
"An effort by stealth bitcoin startup nChain to raise awareness of supposed issues with code that would boost the capacity of the distributed payments network is coming under fire.
Following its publication yesterday, legal experts raised concerns about a view put forward in a CoinDesk opinion article by nChain legal officer Jimmy Nguyen that asserted the upgrade, called Segregated Witness, could face problems under US electronic signature law if activated on the network.
Nguyen's criticisms fly in the face of what has emerged as broad support for the network optimization, which has been largely embraced by the network's developers, miners and startups as a pragmatic step forward, though the specifics on how it should be enacted vary.
Analysts went so far as to question the motives of the commentary, suggesting that they showed a lack of understanding about how the bitcoin protocol functions today, as well as the functionality it is intended to provide.
Chief among the critics were lawyers versed on the intricacies of blockchain law in the US.
Marco Santori, a fintech lawyer who leads the blockchain tech team at Cooley LLP, for example, took issue with what he argued was the confused framing of the allegation."
Read the full article Bitcoin Legal Experts: nChain SegWit Criticisms Are Flawed
Following its publication yesterday, legal experts raised concerns about a view put forward in a CoinDesk opinion article by nChain legal officer Jimmy Nguyen that asserted the upgrade, called Segregated Witness, could face problems under US electronic signature law if activated on the network.
Nguyen's criticisms fly in the face of what has emerged as broad support for the network optimization, which has been largely embraced by the network's developers, miners and startups as a pragmatic step forward, though the specifics on how it should be enacted vary.
Analysts went so far as to question the motives of the commentary, suggesting that they showed a lack of understanding about how the bitcoin protocol functions today, as well as the functionality it is intended to provide.
Chief among the critics were lawyers versed on the intricacies of blockchain law in the US.
Marco Santori, a fintech lawyer who leads the blockchain tech team at Cooley LLP, for example, took issue with what he argued was the confused framing of the allegation."
Read the full article Bitcoin Legal Experts: nChain SegWit Criticisms Are Flawed