Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

  • Bitcoin miners are signaling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • The miners were not expected to start coding their support for BIP 91 until July 21.
  • Already, 66 percent of the last 144 blocks created signal support for it.
  • The proposal needs 80 percent support to be “locked in” to the blockchain permanently.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
Continue reading “Bitcoin soars as miners finally move to solve the digital currency’s scaling problem”

Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

#bitcoin soars as miners finally move to solve the digital currencys scaling problem #BIP91

  • Bitcoin (Exchange: BTC=-USS) miners are signaling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • “The prospect of a contentious August fork has been hanging over bitcoin’s price like a sword of Damocles, and so the 20 percent plus price pop we’ve seen in the last 24 hours is not surprising.”
  • One solution is a system called Segregated Witness (SegWit) which would increase the speed of transactions, but it required 95 percent support from miners and the community to be added to the blockchain and there has been resistance.
  • This would involve a “user-activated soft fork”, where bitcoin users would force the blockchain to split by rejecting any block of bitcoins that did not signal support for SegWit.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
Continue reading “Bitcoin soars as miners finally move to solve the digital currency’s scaling problem”

Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

  • Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • The miners were not expected to start coding their support for BIP 91 until July 21.
  • Already, 66 percent of the last 144 blocks created signal support for it.
  • The proposal needs 80 percent support to be “locked in” to the blockchain permanently.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
Continue reading “Bitcoin soars as miners finally move to solve the digital currency’s scaling problem”

Bitcoin soars as miners finally move to solve the digital currency’s scaling problem

  • Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s long-running scaling issue.
  • Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate.
  • The miners were not expected to start coding their support for BIP 91 until July 21.
  • Already, 66 percent of the last 144 blocks created signal support for it.
  • The proposal needs 80 percent support to be “locked in” to the blockchain permanently.

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency’s scaling issue.
Continue reading “Bitcoin soars as miners finally move to solve the digital currency’s scaling problem”