BitFury’s Valery Vavilov Addresses Big BTC Issues Amidst Block Size Infighting
10 March 2016 – Valery Vavilov, CEO/Co-Founder of the BitFury Group, has commented on the importance of the blockchain today on Medium, going out of his way to debunk a lot of myths pervasive in the mainstream’s understanding of Bitcoin and the Blockchain. The piece serves as a great “Public Service Announcement” that defines Bitcoin in a more dispassionate light than traditional media would like to paint it. He goes over how Bitcoin is secure, allows for transparent and just transactions, and explains it’s uses and importance in an accessible and personable manner. Vavilov’s post is an....
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Bitcoin mining company BitFury’s CEO Valery Vavilov has been clear on the company’s stance in the Bitcoin block size debate. When we contacted him for his thoughts on the debate, Valery sent a full statement detailing where BitFury stood on the issue and why. While going over this statement with BitFury, they gave us access to the news of their new 16nm chip announcement. The timing of this release follows its climb to the second largest hash rate provider in the world. Furthermore, BitFury is aggressively building out its 100 MW data center in Georgia. Valery’s well thought out statement....
Valery Vavilov, CEO of Bitfury, believes there is a solution to the current bitcoin block size challenge. In a recent video interview at TC Davos, he explained his solution and he also expounded on his belief in the future of bitcoin, taking issue with those who are proclaiming its demise. The solution to bitcoin’s block size challenge is to increase the current one-megabyte “block” to two megabytes, Vavilov said. He acknowledges the need to increase the bitcoin blockchain’s scalability, and he envisions a great future for bitcoin in improving its scalability. He gave his insights during....
Today, Bitcoin Classic released code that could double the block size. The concept is crucial, the timing is interesting, the repercussions massive. At CCN, we have covered block size conversations and opinions. Bitfury’s Vavilov has an opinion. Dash has addressed the limitations. But now the debate is in full swing and the intensity is increasing. After Mike Hearn’s recent departure, the discourse in the community was mostly centered around the question of “What does it mean?” Of course not to imply that today’s release is at all correlated with Hern’s exit, but at least now we know what....
Bitcoin Core Developer Jeff Garzik has introduced Bitcoin Improvement Proposal (BIP) 202, proposing that the Bitcoin community and miners take small and economically sound steps in increasing the maximum Bitcoin block size to 2 megabytes. Over the past few months, bitcoin core developers have proposed a number of BIPs including BIP 100 and 101, to increase the Bitcoin block size up to 8 megabytes. However, Bitcoin experts have criticized such proposals with concerns that it may "break" the Bitcoin code. "Bitcoin's block size limit needs to be increased in order to achieve wide Bitcoin....
BitFury recently announced its completion and roll out of their 16nm ASIC for processing Bitcoin transactions. They are also going to be selling direct to customers large and small, which is a change from the last few generations of their chips. Valery Vavilov the Founder and CEO of BitFury was able to answer a couple questions on the new chip and the....