The release of Bitcoin Classic, which constitutes a repackaging of the latest Bitcoin Core software with support for bigger blocks, indicates what could perhaps be a new phase in the ongoing debate whether or how to scale the Bitcoin network’s transaction capacity. It follows the release of a second beta version last week.
The latest proposal, in the form of Bitcoin Classic, would raise the maximum size of transactions blocks from a 1 megabyte (MB) limit to a cap of 2 MB. If activated, the new software would constitute a split in the Bitcoin network, each with its own divergent transaction histories after the point of divergence.
So far, the proposal, which would effectively split the existing history of Bitcoin transactions into two (one with 2 MB blocks and one with 1 MB blocks), has garnered significant support from startups working in the Bitcoin space, as well as a number of Bitcoin miners.
Going forward, adoption depends on a majority of node operators and miners taking the step to break away from the existing network. To date, new versions of the Bitcoin software have been rolled out via voluntary soft forks.
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