Bitcoin network may experience some changes. The agreement obtained by Barry Silbert after the conclusion of the Consensus 2017 summit, which was organized in US was confirmed by Digital Currency Group. The agreement is signed by 56 companies in the sector – including a large number of mining cooperatives, which together account for more than 83% of the computing power of the Bitcoin network.
The agreement is based on the Segwit2Mb proposal which is proposed by Sergio Lerner, Scientific Director of RSK Labs : An 80% Segwit activation and a hard fork for an increase in the maximum block size to 2MB.
For Sergio Lerner himself, this minimalist agreement is not “the best technical solution to solve the technical limits of Bitcoin” but is an acceptable compromise that can quickly emerge from Bitcoin’s immobility.
Signed in the absence of the developers of Bitcoin Core, the proposal is not unanimous among users of Bitcoin, especially among supporters of the UASF who see it as a miner’s coup. In general, many experts consider that the “Hard Fork” solution is risky, but if it is the chosen option anyway, there would be much more interesting things to do with a “hard fork” A simple increase in the size of the blocks.
The signatories include:
KryptoMoney.com posts latest news and updates about Bitcoin and CryptoCurrencies. Subscribe to our newsletters to stay updated.
This article was contributed by author Bhargavi Sayee.
Also Read:
Bitcoin Tax Policies, across various countries
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
