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Bitcoin mining pools agree on scaling roadmap

Monday 22 February 2016 08:50 CET | News

Bitcoin mining pools that represent over 70% of the cryptocurrency network’s hashing rate have agreed over the proposed roadmap for scaling Bitcoin.

Members of the Bitcoin Core team and representatives of the cryptocurrency’s mining pools in China have reached an agreement on the roadmap to scaling Bitcoin with a Bitcoin Core approved hard fork.

The common consensus will see the proposed timeline have five Bitcoin Core contributors develop the implementation of the hard-fork that will be available as a recommendation to the Bitcoin core network.

This hard-fork will include the feature of a block size increase to around 2 MB and the code is expected to be available in July 2016, within three months of the release of the Segregated Witness (SegWit) soft work.

This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the non-witness data to be around 2 MB, with the total size more than 4 MB, and will only be adopted with broad support across the entire Bitcoin community.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions
Categories: DeFi & Crypto & Web3
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DeFi & Crypto & Web3






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