Boosting Bitcoin Classic Mining With Voluntary Fees on A Bitcoin Exchange
Various proposals are floating around on the Internet to raise more support for Bitcoin Classic in these days of block size debates and transaction backlogs. Some people proposed the idea of setting up a crowdfunding effort for those miners who generate Bitcoin Classic blocks on the network. This new idea would see one exchange owner implement a voluntary fee – on top of normal fees – to support the mining of Bitcoin Classic blocks. An interesting concept for sure, but will the community accept it?
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By the look of things, support for Bitcoin Classic is growing in the mining scene, as Multipool.us has opened up a new mining pool for this so-called “altcoin”. With over one petahash of mining power directed to this Bitcoin Classic pool alone, the competition with Bitcoin Core is being taken to a whole new level. However, only three blocks have been mined so far, and there is still a long way to go before Multipool.us will become a major contender. Multipool.US Supports Bitcoin Classic Mining. While it is positive to see further competition between developmental solutions, the big....
Minergate, a mining pool and the developer of GUI mining software that supports various mining various cryptocurrencies including bitcoin and Ethereum, is including support for Ethereum classic, the blockchain based on the original Ethereum platform’s consensus before the hard fork. Although the original Ethereum blockchain was officially abandoned following a hard fork that was triggered as a result of the DAO Ahack, a group of community members have since come together to implement the Ethereum blockchain’s original consensus. The project, known as Ethereum Classic, was announced last....
Bitcoin Classic, the Bitcoin implementation set to double Bitcoin's 1 megabyte block size limit by a hard fork, suffered a significant setback shortly after its official release this week. A group of prominent exchanges, mining pools and other industry players organized under the “Bitcoin Roundtable” collective, stated publicly they will not switch to Bitcoin Classic for the present. An open letter by the Bitcoin Roundtable, including signatories representing major Bitcoin exchange Bitfinex, ASIC-manufacturer and mining pool BitFury, exchange, wallet service and mining pool BTCC, cloud....
The increasing amounts of Bitcoin transactions have slowly led to an increase in Bitcoin fees as miners favor the transactions with fees as priority transactions. This means that it can take a longer time for a Bitcoin transaction to clear. Some transactions, small ones without fees generally, can be lost to the Bitcoin ether, only to be returned to sender a few day later. Transaction fees have been touted as one of the best reasons to use Bitcoin. The world’s first truly international value transfer system boasts the lowest transaction fees. Though these fees have been quietly rising over....
Bitcoin Classic has been a point of controversy since its announcement. Taking on Bitcoin Core head-to-head, Classic proposes an immediate block size increase to 2 MB, with provisions for future increases. The block size debate has always been contentious, apt to erupt into name-calling and mudslinging. But now, with Core facing serious competition from Classic, this scalability issue may soon be forced to come to a head. On February 22, 2015, reports surfaced of bitcoin mining pool Multipool.us opening a pool for Bitcoin Classic. Multipool.us dedicated an entire petahash of mining power....