CryptoVoter Brings Decentralized Voting To Bitcoin: On Oct. 23, Vote To Increase The Block Size
A decentralized, open-source voting platform called CryptoVoter allows bitcoin holders to vote on bitcoin development issues. The value of each voter's vote is proportional to how much bitcoin they own, making the system similar to a shareholder referendum. Introduced by startup Lewes, Del. -based Blockchain Innovation Labs Inc., the CryptoVoter uses the block chain to cast and audit votes. The questions are proposed by bitcoin holders. After each poll deadline, the system scans wallet balances of addresses associated with the votes and automatically calculates the total for each answer....
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Based on block size voting results, only 27.94% of the community is in favor of the Bitcoin Core solution. The Bitcoin ecosystem is divided into multiple camps. With the lingering scalability issues, and other proposals representing an immediate solution to this problem, there is an interesting mid shift taking place. As it turns out, the majority of miners is still supporting Bitcoin Core in the block size debate. But they are losing ground at a rapid pace. Right now, there are different proposals on the table to solve the Bitcoin scalability issue. One thing everyone seems to agree on is....
When it comes to the voting process, there is always an aura of not knowing what is going on exactly, and whether or not results should be trusted. One of the possible use cases for blockchain technology is decentralized voting. If it is up to Australian startup Veri.vote, that concept will soon become a reality. The company is currently developing the world’s first anonymous and transparent electronic voting system. Using the blockchain for something as colluded as voting sounds like an interesting social experiment. Various startups are exploring this opportunity, and it appears as if a....
Blockchain is the ledger in Bitcoin network which records all transaction details. These transactions are registered in 10 minute blocks of 1 megabyte each. The Blockchain grows as the number of blocks increase. New blocks are created each time after the previous block exceeds the block size. The block size was limited to 1 MB during the initial days of Bitcoin when the number of transactions were less and the Blockchain didn't have much use apart from recording the transactions. But now, as the number of bitcoins and bitcoin users increase, the number of transactions also rise. Apart from....
Over the past few weeks, community-driven Bitcoin statistics and services provider Coin Dance conducted a survey to analyze the stance of the Bitcoin community on the Bitcoin block size debate. Approximately 64% of Bitcoin users that participated in the survey voted for the increase of the block size limit. Scaling the Bitcoin network. Since the Bitcoin Roundtable Consensus in Hong Kong held in February 2016, a lot of Bitcoin users, miners, companies, and investors have demanded for the increase of the Bitcoin block size. Miners and companies that participated in the Hong Kong conference....
The Bitcoin debate of the year has been about how the blockchain block size matters. Whether to increase block size, how to do it, and when to do it, everyone seems to have an opinion. Now, Coinbase CEO Brian Armstrong, who has been mostly silent on the issue, has weighed in with a personal desire for growth, seemingly aligning with other Bitcoin corporate leadership. BIP 100, crafted by noted developer Jeff Garzikc is the current favorite amongst miners and the voting majority when it comes to block size upgrades. With BIP100 the power to set the block size limit is transferred from the....