Published on: 2015-08-21T03:10:09+00:00
BitPay, a leading Bitcoin payment processor, has expressed its support for BIP 101, which could potentially lead to an increase in the block size limit. This development comes amid uncertainty about the future of Bitcoin and the need for further research on the current protocol version. The creation of XT, a proposed alternative implementation of Bitcoin, was driven by frustration over the slow progress of research. However, there is hope that the current block chain will continue to survive, albeit with fewer users. The email thread also includes a message from Oliver Egginger via bitcoin-dev, who raises important questions about the possibility of continuing with the old protocol version if XT prevails. One concern is whether there will be enough people to support the old nodes. Additionally, there is uncertainty about whether developers would fork a Bitcoin client to provide security updates for the old nodes. It is also unclear whether compatibility mode in XT would allow it to behave like an old Bitcoin node.The fate of smaller projects such as picocoin, which rely on the current protocol version, is also uncertain. Despite the opposition to XT expressed by the writer of the email, they acknowledge that they would fight against it as long as possible and refuse to use it themselves. The writer's preference is for a block size increase in line with something like BIP 100.
Updated on: 2023-08-01T15:34:53.770505+00:00