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BitFury supports Bitcoin classic and 2MB block size

Monday 18 January 2016 09:51 CET | News

BitFury has revealed their support for 2 megabyte block size increase with Bitcoin Classic.

Currently, over 72% of mining pools support Bitcoin Classic. Amongst them, BitFury which controls around 13% of the mining share have contributed the third largest mining pool support behind AntPool and F2Pool.

Essentially, Bitcoin Classic is a temporary solution to double the Bitcoin block size until a better solution is found. Due to the misinterpretation from the mainstream media regarding the controversial statement of former Bitcoin lead developer Mike Hearn, the Bitcoin community strongly proposed an implementation of a temporary system, instead of gearing towards a hard fork.

Instead of creating a potentially dangerous environment for the Bitcoin network by forcefully implementing a hard fork, many companies and mining firms believe that by implementing a soft fork and increasing the block size to 2 megabyte, it will allow the community and developers to observe the results of an alteration in the network and spend more time in developing an improved proposal.


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






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