Chinese Mining Pools Call for Consensus; Refuse Switch to Bitcoin XT
Three of China 's biggest mining pools – F2Pool, BTCChina Pool and Huobi Pool – maintain that the Bitcoin Core development team should strive for consensus, and will therefore not support a switch to Bitcoin XT. Given Core developer Gavin Andresen's latest proposal and the current hash-rate distribution on the Bitcoin network, a network wide shift from Bitcoin Core to Bitcoin XT to allow bigger blocks seems infeasible, for now. Lacking consensus among Core developers to raise the block size limit, Andresen has recently shifted his efforts to Mike Hearn's Bitcoin Core fork, Bitcoin XT. In a....
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The dabbling about the Bitcoin block size debate has gone on for far too long, and the Chinese mining pool operators seem to agree with that sentiment. As more time progresses without a clear decision and plan for the future of Bitcoin, the popular digital currency is looking some of its legitimacy that took years to build up. As if the Bitcoin community was not sick and tired of the ongoing block size debate just yet, it looks like the Chinese miners have come to a consensus of their own. The plan is to reject any forking of Bitcoin that does not gain 90% consensus or more while still....
Together, ETHW mining pools already make up more mining capacity in terms of block share than Ethermine, which opted to shut down mining operations. Despite Ethereum’s historic transition to a proof-of-stake (PoS) consensus mechanism, mining pools are increasingly signing up for mining on the upcoming proof-of-work (PoW) version of Ethereum.EthereumPoW, the community advocating for ETHPoW, or the PoW Ethereum version, has released a list of mining pools that are going to continue mining after the ETHW mainnet launch.According to EthereumPoW, some major Ethereum mining pools are going to....
Shortly after the sensational public break-up between Bitcoin and R3CEV - hire Mike Hearn, and the launch of several alternative Bitcoin implementations, the block-size dispute is reaching fever pitch. Bitcoin Classic, in particular, has been gathering support among companies, users and some developers. Significantly, a number of mining pools has also publicly come out in support of the Bitcoin Core fork led by Jonathan Toomim. The second largest mining pool on the Bitcoin network, with some 23 percent of hashing power, China-based F2Pool, was said to be among the pools prepared to switch....
Five of China's biggest mining pools — AntPool, F2Pool, BTCChina, BW Mining, and Huobi — have mutually agreed to a raise of the block size limit to 8 MB. In a statement sent to CoinTelegraph and posted today on the Bitcoin subreddit, they collectively rejected Bitcoin core developer Gavin Andresen's proposal to raise the limit from 1 MB to 20 MB, and instead presented a compromise. The mining pools came to the agreement at the National Conference Center in Beijing last Thursday. As they jointly account for some 55% to 60% of all hashing power on the Bitcoin network, it may now be....
There's no denying the Bitcoin block size will need to be increased, as even the Chinese mining pools are in agreement with that statement. Whether this will happen through a hard fork or soft fork, remains to be seen, though.The ongoing Bitcoin block size debate is causing a fair bit of controversy and concern within and outside of the Bitcoin community. Even though everybody wants to see an overwhelming consensus support for either Bitcoin Core or Bitcoin Classic, a lot of the “voting power” lies with the Chinese mining pools. Whereas a few people misinterpreted support for Bitcoin....