#Bitcoin Classic

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 mining pools collectively holding at […]

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.

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 MB as of 2016 with […]

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 “contentious”. This move may propel […]

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 means it’s compatible with Bitcoin […]

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 holidays ahead, so it's likely […]

Gavin Andresen posted a new block size-related BIP proposal on Guthub. Though officially the so-called “bip-bump2mb.mediawiki” is a variation on a theme commonly known as BIP 102, and implies a 2 MB block size increase, some community members believe it technically is an almost precise copy of Bitcoin Classic. The proposal’s consensus threshold is set […]

China-based F2Pool, the world’s second largest miner in terms of capacity, confirmed it rejected the original idea of supporting Bitcoin Classic as a possible solution for block size scaling, and stuck with Bitcoin Core. The same decision was made by another Chinese miner HaoBTC. Its spokespersons state Chinese miners mostly side with Bitcoin Core. The […]

Surprisingly for many bitcoin community members, Jonathan Toomim’s Bitcoin Classic proposal has garnered support from as much as 72% of the network’s mining capacity. With the consensus threshold set at 75%, the proposal is very likely to become active in no time.