Miners Host the Bitcoin Unlimited Team
Support for Bitcoin Unlimited is gathering pace in China where a meeting took place in Shenzhen, Beijing and Hong Kong. The Shenzhen meeting was attended by representatives from Bitbank, BW, Bitkan, ViaBTC and Sosobtc. CCN has learned that the Beijing meeting was attended by representatives from Bitmain, among others, while the Hong Kong meeting was attended by ANX, a bitcoin exchange and bitcoin debit cards provider. The topic of discussion was mainly tech related with a presentation on parallel validation by Peter Tschipper, a Bitcoin Unlimited developer. According to presentation slides....
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On March 15, Bitcoin Unlimited suffered from an attack that led to a 6-hour downtime for miners and node operators. Miners lost over $200,000 in revenue and nodes crashed, bringing the node count of Bitcoin Unlimited down from 800 to roughly 300. This particular attack or software crash didn’t necessarily have a major impact on the Bitcoin network. However, it signified that the Bitcoin Unlimited team most likely don’t have the experience and expertise to lead the development of Bitcoin. The March 15 software crash is Bitcoin Unlimited’s second bug exploitation in 2017. One major criticism....
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....
The organizers of Scaling Bitcoin Conference, which is supported by the Bitcoin industry’s leading companies including Blockstream, BTCC, Kraken, and BitFury, were criticized by the Reddit BTC community for rejecting all four proposed presentations from the Bitcoin Unlimited team. Scaling Bitcoin Conference workshops and conferences are designed to discuss the implementations of various innovative technologies in scaling the Bitcoin network efficiently and securely. The industry’s top wallet service providers, exchanges, trading platforms, and mining companies sponsor and host the....
Bitcoin Unlimited has been a controversial topic within the bitcoin community mostly because of the recent exploitation of the software’s internal bugs. On March 15, several developers outside of the Bitcoin Unlimited development team found several bugs in its software which led to a 6-hour downtime for miners and shut down 500 nodes within minutes. Technical Issues With Hard Fork Solutions. When bugs emerge, developers can provide appropriate fixes and solutions to address them, similar to how the Ethereum development team released various patches in late 2016 to build resilience toward....
Support for Bitcoin Unlimited continues to grow, even though some of the employed methods raise questions. Project XBTC will host their ICO to fund a new bitcoin mining operation. The primary objective of this new pool is to signal Bitcoin Unlimited support. A total of 21 million XBTC tokens will be issued, all of which can only be paid for with Ethereum Classic. A rather strange turn of events, to say the least. It is not often one sees an ICO not accepting bitcoin payments these days. This only becomes more intriguing when considering how the XBTC ICO is designed to support Bitcoin....