The future of Bitcoin development has taken an interesting turn in the past 24, as the Bitcoin Core developers and close to 80% of the network mining power – read: pool operators – have agreed on hard forking Bitcoin. Such a magnanimous event is a world’s first for the bitcoin ecosystem; a shard forking has been out of the question up until now. But what will this agreement do for Bitcoin Classic? Such an agreement would prevent this alternative solution from reaching its activation point.
Also read: Bitcoin Price Surpasses US$455; Moving Towards US$500 Bitcoin Core Devs And Chinese Mining Pools Agree
While a solution to the seemingly infinite Bitcoin block size debate is very positive for the future of bitcoin, there are are always two sides to a story. In this case, it looks like the Bitcoin Core developers have managed to sway the minds of Chinese mining pools , which represent close to 80% of the total Bitcoin mining power.
Up until this point, a hard fork in the future of Bitcoin development would have been out of the question. Neither the Chinese mining pool operators nor the Bitcoin Core developers were too keen on going down this road, as hard forking Bitcoin proves to be quite the challenge, and brings a lot of risks to the table.
But for some reason, Bitcoin Core developers have changed their mind and taken a similar approach to the solution presented by the Bitcoin Classic team. There is one major difference between the two, though, as Bitcoin Classic wanted to fork hard Bitcoin sooner rather than later. It is impossible to say whether or not their solution will effectively work out properly, but it certainly has sparked the efforts by Bitcoin Core.
Some people might even argue how Bitcoin Classic is […]
