Bitnet Willing to Adopt Alternative Block Increase Proposals, Too
Bitcoin payment processor Bitnet has indicated it is willing to implement block-increase proposals other than BIP (Bitcoin Improvement Proposal) 101. This makes Bitnet the third signatory of the industry letter supporting BIP 101 that indicates that it is open to alternative proposals. Bitnet co-founder and CTO Stephen McNamara told Bitcoin Magazine that....
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BitPay, one of the top funded companies and most-used payment processor in the Bitcoin industry, is open to alternative block-size proposals - not just BIP (Bitcoin Improvement Proposal) 101. Speaking to Bitcoin Magazine, CEO Stephen Pair reaffirmed that BitPay will adopt code to increase Bitcoin's block-size limit by December of this year, but said this no longer needs to be the proposal as implemented in alternative Bitcoin implementation Bitcoin XT. BIP 101 is programmed to increase the block-size limit to 8 megabytes, then doubling every other year for the next 20 years. This proposal....
Instead of having online merchants for bitcoin transactions to be verified, payments processor Bitnet introduced its instant approval tool that can reduce delays. Merchants who have integrated their online shop platforms with Bitnet can be able to receive bitcoin payments in seconds instead of waiting a long while for confirmation through the bitcoin network. The time it takes for bitcoin transactions to go through has been much longer these days, thanks to a surge in volumes and the current block size limit. There has been a longstanding debate to increase the maximum size of a block, but....
Bitcoin Classic is the latest attempt to increase Bitcoin’s block size limit via a hard fork initiated by miners running an alternative to Bitcoin Core, but it appears that the relatively new software client may already be on its last legs. According to various sources familiar with a meeting in Beijing on March 30, supporters of an increase to the Bitcoin block size limit were unable to convince the Chinese mining community to implement BIP (Bitcoin Improvement Proposal) 109 without support from Bitcoin Core contributors. It was the intention of some participants to convince the Chinese....
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....
Brian Armstrong, CEO of record-funded Bitcoin wallet service and exchange Coinbase, plans a code update to allow for bigger blocks in the second week of December, and has indicated he prefers BIP (Bitcoin Improvement Proposal) 101. This makes Coinbase the latest Bitcoin industry heavyweight to endorse the proposal as adopted by alternative Bitcoin implementation Bitcoin XT, although the company is still open to other solutions. Armstrong recently sent out a series of tweets in support of a block-size increase, in which he stated the intention to upgrade his company's code by December. It....