Bitcoin

Ethereum bitcoin sidechains

Our goal has always been a smooth upgrade for Bitcoin. 6988 single-format-standard sticky-header sticky-headroom big-header wide wpb-js-composer js-comp-ethereum bitcoin sidechains-4.

Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. Bitcoin, as well as other chains such as Bitcoin Cash, Litecoin and other Bitcoin-family chains. When deciding to decouple the segwit and 2MB upgrade, Charlie Shrem assured me that he would make sure this is not the outcome. Proof of Shrem is not a very solid consensus mechanism. Bitcoin’s community is strong, and needs to broadly support any changes to Bitcoin’s consensus rules.

Future proposals must start by soliciting broad community feedback, not just an afterthought. The decision to call off segwit2x was unexpected without any hints given prior to its announcement just minutes ago. Bitcoin’s price jumps on the news that segwit2x has been called off. Bitcoin’s price dives as segwit2x is called off. Blockstream with a campaign then beginning against the base size increase. That appears to have succeeded as far as the main bitcoin chain is concerned, with some big blockers forking off to their own Bitcoin Cash chain this August 1st 2017. The ecosystem was preparing for another fork on November 16th, the segwit2x fork, but this last minute announcement now means that is not going ahead.

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