ViaBTC Might Block Segwit, Calls 1MB blocks “Network Suicide”; Moves to Bitcoin Unlimited
The never ending bitcoin blocksize debate returns to the forefront as ViaBTC, a new pool with around 10% network hashrate, moves all of its mining operations to Bitcoin Unlimited. In a new public statement, ViaBTC delivered the most scathing criticism yet of the current bitcoin scaling situation. Written by Haipo Yang, CEO of ViaBTC, formerly at Tencent with experience in the development of distributed, highly concurrent network servers, the article argues that, in effect, the 1MB limit will destroy miners: “[W]ithout growing capacity for on-chain transactions the business model of the....
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ViaBTC, which now controls around 15% of the network hashrate in combination with Roger Ver’s Bitcoin Unlimited pool, has called for a hardfork to upgrade bitcoin’s transaction capacity. “Drop the matter of SegWit, let’s hard fork together,” followed by a resounding no to the question of whether there is anything core could do to make ViaBTC support segwit, are just some of the public statements made by the new pool that has suddenly taken the fourth position in network hashrate distribution. I reached out to better understand the seemingly changing alignments in the great debate by asking....
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....
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....
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....
The way things stand right now, Bitcoin Unlimited has 35.8% miner support. It appears as if the BitClub mining pool has had a change of heart recently. Albeit the company mined a Bitcoin Unlimited block before, it was a slightly different type. To be more specific, it was a block that did not properly signal BU alone. That has changed as of now, with at least three BU-only blocks being mined by the pool in rather quick succession. BitClub Supports Bitcoin Unlimited Now? It is rather surprising to see BitClub still support Bitcoin Unlimited right now. When the pool mined its first BU-esque....