Bitcoin scalability debate gained steam as 8btc.com published details of the Bitcoin Classic implementation proposal discussed by miners of China.
Following an 18 hour-long meeting in Hong Kong, a group of miners representing nearly 80% of the network’s hash power, alongside with representatives of several prominent exchanges, issued a timeline for introducing a hard-fork solution.
After the last week’s bitcoin roundtable, where some of the most prominent figures of the industry have gathered to discuss possible solutions to the drawn out block size dispute, some thought the resulting letter was making an offer the developers wouldn’t refuse. As a reminder, last week, representatives for several.
With the commonly acknowledged lack of general consensus in the notorious block size debate, the community may eventually face unexpected legal problems in case a hard-fork is implemented, according to Daniel Friedberg, head of an American law company Riddell Williams PS. In his recent post he outlined the issues that.
Gavin Andresen, Bitcoin Core developer, announced he dismissed his BIP 101 proposal. The proposal was the basis for Bitcoin XT protocol. BIP 101 was developed in summer 2015 by Andresen and recently departed Mike Hearn. Their solution, however, was widely criticized due to its aggressive block size increase to 8.
Mining pools collectively holding at least 70% of the whole bitcoin network’s hash power sided with two large bitcoin exchanges in a so-called “call for consensus”. The call in question was compiled following the roundtable where the attendees agreed not to support Bitcoin Classic or any other hard-fork they call.
The first version of Bitcoin Classic fork, which implies twofold increase of block size, from current 1 MB to 2 MB, is released. The initial code of Bitcoin Classic 0.11.2 was posted on Github by Bitcoin developer, Gavin Andresen, on February 9. The version is numbered 0.11.2, however, this only.
The continuing block size debate has entered a new phase following the announcement by Antpool concerning its forthcoming test run of Bitcoin Classic, which is considered one of possible solutions to the problem. Jihan Wu, CEO at Antminer, tweeted: Antpool will start to test Classic soon. There is 7day long.