Bitcoin Core Consensus Can Disrupt Bitcoin Classic Adoption
The future of Bitcoin development has taken an interesting turn in the past 24, as the Bitcoin Core developers and close to 80% of the network mining power – read: pool operators – have agreed on hard forking Bitcoin. Such a magnanimous event is a world’s first for the bitcoin ecosystem; a shard forking has been out of the question up until now. But what will this agreement do for Bitcoin Classic? Such an agreement would prevent this alternative solution from reaching its activation point. While a solution to the seemingly infinite Bitcoin block size debate is very positive for the future....
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Bitcoin Core, descendant of the original Bitcoin software launched by Satoshi Nakamoto in 2009, has always been Bitcoin's reference client. The implementation, formerly known as Bitcoin QT, proposes standards for the Bitcoin protocol itself. But these standards are not binding. Based on open source software, anyone can take the code, modify it as they see fit, and offer the adjusted version to the world. This was recently highlighted by the launch of Bitcoin Classic and Bitcoin Unlimited, and Bitcoin XT before that. But these implementations did something that hadn't been attempted before,....
If you’re looking for some insights from the recent Bitcoin Roundtable consensus, you’re in the right place. The Bitcoin Roundtable meeting was seen as an essential step for the bitcoin community. Samson Mow, chief operating officer of BTCC — a China-based bitcoin exchange and mining pool — is a key participant of the scaling bitcoin debate, Bitcoin Core v. Classic, and is vocal in his intention to motivate the majority of the bitcoin community to stay with Bitcoin Core. Mr. Mow runs the day-to-day operations of BTCC, one of the largest Bitcoin companies in the world with a considerable....
One thing is for sure: no one will be surprised if another branch of development pops up. It is only a matter of time until a new bitcoin fork is proposed. After Bitcoin XT and Bitcoin Classic failed, Bitcoin Unlimited is the current concept to disrupt Bitcoin Core development. Samson Mow jokingly hinted at what could be the next fork of development. BitcoinEC would keep the best of Bitcoin Core and add Emergent Consensus “nonsense”. An intriguing thought, even if it is just a joke. Discussions like these always lead to a rather intriguing conversation between bitcoin enthusiasts.If....
In the continuing struggle between advocates for Bitcoin core and the hard fork of Bitcoin Classic, some Bitcoin ATM’s have drawn a line in the sand on where they hope the future of the cryptocurrency to go in favor of Bitcoin Classic. In a recent Reddit thread posted on behalf of the Bitcoin ATM company Bitlove, they shared that they were among 5 current Bitcoin ATM companies including Coinucopia, Herocoin, Tobitcoin, Sumbits, and Bitlove which would switch to Bitcoin Classic to support the immediate block size increase. In total, 29 Bitcoin ATM’s across North America have switched to....
Referred to as the Satoshi client, Bitcoin QT, Bitcoin Core , or simply Bitcoin’s reference client, the original Bitcoin implementation as introduced by Satoshi Nakamoto has always set the standard for Bitcoin’s consensus rules. While alternative implementations were launched over the years, these were programmed to follow or even enforce existing conduct. Bitcoin XT , the Bitcoin implementation by recent R3CEV -hire Mike Hearn, was a first attempt to break with that concept. Regarded a controversial move by many, Bitcoin XT is programed to break existing consensus rules in order to....