The letter calls for an increase in the cap that currently limits the Bitcoin blockchains transaction processing capabilities while also voicing support for a proposal called Segregated Witness, code previously put forward by the team behind the majority-used Bitcoin Core software as part of a broader scalability roadmap.
In the case of Bitcoin Classic, the change could result in one network operating with blocks with a 2MB block size cap and another with the existing 1 MB cap.
The publication followed the release of Bitcoin Classic, an effort to raise the block size limit of the Bitcoin network by means of a hard fork.
The letter’s signatories include mining entities BitFury, BW.com, BTCC, F2Pool and GHash.IO, a list that constitutes close to 70% of the Bitcoin’s hash rate distribution.
Most notably, the letter states that signatories would not run production-grade versions, nor would they mine blocks as part of a hard fork of the Bitcoin network, naming Bitcoin Classic and Bitcoin XT, an earlier proposal to hard fork the network, specifically.
Those signing the letter also called for greater collaboration with the team behind Bitcoin Core, though the wording notably does not preclude those involved from running test versions of the Bitcoin Classic network.
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