Bitcoin Core Dev’s Blocksize Reduction Proposal Draws Ire from ViaBTC Founder
Haipo Yang, ViaBTC’s founder and former employee at the Chinese internet giant Tencent, expressed strong criticism in a brief interview with CCN towards Luke-Jr, a Bitcoin Core developer and Blockstream contractor, regarding his proposal to reduce the blocksize to 300kb or, alternatively, for the network to wait another 7 years before an increase of the current 1MB transaction capacity. Yang says: “If we change the block limit to 300KB now, the bitcoin system will crash. He, as the core developer of Bitcoin, [is] very irresponsible to do this.” Luke-jr did not respond to our requests for....
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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....
There have been a few proposals to increase the maximum blocksize in Bitcoin over the past year, but the two plans that are garnering the most attention right now are Jeff Garzik's BIP 100 and Gavin Andresen's BIP 101. While Andresen has already implemented his plan in BitcoinXT, Garzik is still working on a formal write-up and the code for BIP 100. Andresen shared his thoughts on BIP 100 via an interview on Epicenter Bitcoin. Although he did not seem completely dismissive of the proposal, it's clear that he would prefer to go with his own idea for increasing the blocksize, which would....
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, 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's cloud mining offering may strengthen the position of Bitcoin Unlimited in the cryptocurrency industry. A Bitcoin mining pool which supports Bitcoin Unlimited has lately been criticised for offering cloud mining services. ViaBTC, as the company is called, has lately announced that it will allow more people to join its Bitcoin mining pool in return for small investments in its mining equipments. On the other hand, ardent Bitcoin Core fans, who have already shown their displeasure with the Bitcoin Unlimited proposal, have turned themselves against such services. ViaBTC claims that it....