By the look of things, the debate on which solution to take for solving the Bitcoin block size debate once and for all is still not over. Even though Bitcoin Classic has seen a huge amount of support so far, a new initiative by Bitcoin Core is looking for people to publicly show support for this course of development. Needless to say, the community is getting tired of this internal bickering, and the approach of “talk less, get more done” is coming to mind.
Also read: Bitcoin Exchange Gatecoin Joins The SuperCharger Accelerator in Hong Kong
The one thing everyone in the Bitcoin community wants to see is a resolution for the block size debate and not an e-peen contest between developers. Both Bitcoin Core and Bitcoin Classic are in favor of increasing the block size, which is what really matters at this point. All of the talks about additional features is not part of the main topic, so what is all the fuzz about, you ask?
Well, both Bitcoin Core and Bitcoin Classic have various points on their agenda they would like to push through as future updates. Bitcoin Core is looking to deploy Segregated Witness on the blockchain, As a result of this feature, the blockchain will become less cluttered, as all of the transaction signature data will be moved to a data structure outside of the transaction block itself.
Not only will Segregated Witness help make the blockchain more efficiently, but it also creates future opportunities waiting to be explored. Especially when it comes to introducing smart contracts to the Bitcoin ecosystem, Segregated Witness seems to be the preferable option. In fact, several Bitcoin wallet providers – including Electrum, Trezor, and Ledger – have already started supporting segwit libraries.
Bitcoin Classic, on the other hand, is looking to take an approach in which the miners will have a say in the future block size. While the short-term goal is to increase the block size to 2MB, future upgrades to 8MB or more are on the table. With quite a few mining pools and companies supporting this solution, many people felt this would be the solution to this problem.
But it looks like Bitcoin Core developers are not planning to let things go down so easily, and the list of people signing their “petition” is quite lengthy. The main problem is what the goal of this petition is, as it remains a bit unclear why this post was created in the first place. People want a solution, not create an even bigger divide between valid opinions.
Source: GitHub
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
With $2,222,222 in liquidity fueling its presale, ShibaDino is proving that memecoins can offer more…
FTX and Alameda Research, two of the most significant players in the cryptocurrency ecosystem, have…
A significant player in the cryptocurrency market has stirred things up by gathering a large…
In a cryptocurrency market often marked by wild swings and uncertainty, $LAYER stands as a…
One of the top cryptocurrencies in the market, Ethereum ($ETH), has seen a huge rise…
Bitcoin (BTC) has long held a dominant position in the cryptocurrency market for years. However,…
