You're gonna need a bigger block.
August 18, 2015 5:57 PM Subscribe
Bitcoin's forked: chief scientist launches alternative proposal for the currency
The key difference between Bitcoin XT and the other version of bitcoin, known as Bitcoin Core, is size of the blocks into which transactions get grouped every 10 minutes. Core supports a maximum block size of 1mb, which XT increases to 8mb. Hearn, and the other supporters of XT, argue that that increase is necessary if the currency is to continue growing.Additional coverage/discussion:
"As Bitcoin spreads via word of mouth, we will reach the limit of the current system some time next year, or by 2017 at the absolute latest," Hearn writes. "So it is now time to raise the limit, or remove it entirely."
Those who oppose the change do so for a variety of reasons. Some argue that it's a simple sticking-plaster solution, and that the actual fix should be far more wide-ranging (one such proposal being the "lightning network" upgrade); they worry that removing the most pressing need for an upgrade will also lessen he chance of that wide-ranging fix.
Others simply oppose changing anything from the initial bitcoin proposal presented by Satoshi Nakamoto in 2009, and argue that any major change should come in the form of a whole new currency, or "alt coin", rather than an update to bitcoin itself.
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