ViaBTC Sees 50% Drop in Hashpower After Supporting Bitcoin Unlimited
ViaBTC, one of the largest mining pools in the world, experienced a 50% drop in its hashpower after allocating all of its resources in mining Bitcoin Unlimited blocks. Bitcoin Unlimited is an alternative project with which miners can decide the size of the blocks they wish to mine. ViaBTC for instance, is mining 2 MB blocks through Bitcoin Unlimited, while the Bitcoin.com mining pool is opting for a 16 MB blocksize. The team behind ViaBTC decided to move its entire mining pool to Bitcoin Unlimited due to their belief that the current capacity of the Bitcoin network significantly restricts....
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ViaBTC has mined its first official Bitcoin Unlimited block after confirming it allocated its entire hashing power to mining on the platform. ViaBTC’s First Bitcoin Unlimited Block. ViaBTC is the fifth-largest mining pool in the world by hashrate distribution. It announced it had officially mined its first Bitcoin Unlimited block on October 10, with a....
ViaBTC has announced its support to Bitcoin Unlimited, mines its first Bitcoin Unlimited block. Bitcoin Unlimited, the fork of Bitcoin blockchain is receiving a lot of support lately. Soon after Bitcoin.com mining pool announced its support to Bitcoin Unlimited, another mining pool, ViaBTC has followed suit. ViaBTC, which claimed itself to be the fifth largest Bitcoin mining pool on Twitter recently has allocated its full hashing power to mine Bitcoin Unlimited blocks. The mining pool, launched on June 5, 2016, has rapidly climbed through the ranks to be among the top mining pools on the....
It is evident this game between Bitcoin Unlimited and Bitcoin Core is nothing more than politics at play. Ever since ViaBTC launched their Transaction Accelerator, the company has been on an aggressive marketing oath. Although it initially launched free of charge, users had to pay a small fee to use the TA. But it looks like ViaBTC wants to make another statement, declaring how Bitcoin Core devs “refuse to up the block size limit.” If that were the case, Segregated Witness would not be here. Everyone knows ViaBTC as a mining pool publicly supporting Bitcoin Unlimited. This alternative....
Last week, Bitcoin Core version 0.13.1 was released, officially bringing Segregated Witness (SegWit) to Bitcoin. 4 days in, 13.7% of Bitcoin nodes has already upgraded to Bitcoin Core 0.13.1, supporting the activation of SegWit. SegWit is an innovative scaling technology developed and introduced by the Bitcoin Core development team. Once it reaches a soft fork activation threshold, it will separate the transaction signatures from the initial transactional data, which immediately increases the capacity of blocks and eliminate transaction malleability. Like all soft forks, the SegWit release....
ViaBTC, the Bitcoin network’s second largest mining pool, has recently announced that the group is interested in increasing the Bitcoin block size and the Bitcoin Unlimited proposal. The statement of ViaBTC on social media immediately gained massive exposure in online Bitcoin communities, as many Bitcoin users responded positively to the group’s intentions to work with Bitcoin Unlimited with some developers voluntarily offering help to deploy Bitcoin Unlimited in ViaBTC’s network. Approximately 24 hours after the announcement of ViaBTC was released to the public, the market share of the....