Author: Chris Priest 2017-01-07 20:26:30
Published on: 2017-01-07T20:26:30+00:00
The debate between Bitcoin Classic and SegWit is still ongoing. While Bitcoin Classic only changes block format, SegWit requires everyone to write code to support the new transaction format. The activation of Bitcoin Classic happens when 75% of miners adopt it. However, Eric Lombrozo via bitcoin-dev had criticized the release of Bitcoin Classic version 1.2.0 for not being clear that it is incompatible with the current Bitcoin network and its consensus rules. He further stated that there is no evidence of community-wide consensus for such a hard fork, making it dangerous and irresponsible. As per Chris Priest via bitcoin-dev, Bitcoin Classic only becomes dangerous if it activates at 50%, creating a situation where it's unclear which side of the fork has the most proof of work. Meanwhile, Tom Zander via bitcoin-dev announced Bitcoin Classic version 1.2.0, which includes various bug fixes and performance improvements. The decentralization of the block size solution is the most visible change in this version. Furthermore, the release of various projects with the beta label is included in this version. It is important to note that miners are the only ones who make blocks, so they are the only ones who matter when it comes to changing block rules. Nodes, wallets, and other software are not affected by changing block rules. If someone wants their voice to matter, they need to get hold of some hash power. The fact remains that the system works this way, which is not a matter of opinion.
Updated on: 2023-06-11T21:05:44.539122+00:00