Archive | consensus

Bitpay Will Not Suspend Services — ‘Very Little Risk of Network Disruption on August 1st’

On July 27 the world’s largest bitcoin payment processor, Bitpay, announced its plans for August 1st. According to the company, there is a lot of “misinformation” concerning updating Bitcoin’s consensus rules and the firm does not plan to suspend services that day.   Also read: Fork Watch: These Bitcoin Exchanges Will Not Support ‘Bitcoin Cash’ Bitpay Thinks […]

Charlie Lee Resigns From Coinbase to Focus on Litecoin

Founder of Litecoin, Charlie Lee, tweeted Friday that he will no longer be working for Coinbase. He is leaving the company to focus on his brainchild creation, Litecoin. This news comes as a welcome surprise to the Litecoin community, who are entering into a new stage of maturation, as they recently elected to activate segregated witness. […]

56 Bitcoin Companies Approve Segwit-2Mb Combined Fork Plan

Barry Silbert’s firm the Digital Currency Group (DCG) revealed a scaling agreement on May 23 with a letter of intent backed by 56 Bitcoin companies, for Sergio Demian Lerner’s recent Segwit-2Mb plan. The announcement states the signed agreement represents a “critical mass of the bitcoin ecosystem” with 83.28% of hash power supporting the proposal. Also […]

Sidechain Juggernauts RSK Labs Launches Ginger Testnet After $3.5M in New Funding

The highly anticipated project by RSK Labs officially moves into open beta status today with the launch of their public testnet named Ginger. The company is inviting everyone to try out their smart contracts using Bitcoin with their ethereum-like sidechain. They have also secured new funding that will allow them to take the project to full […]

Chinese Miners Worried About a User-Activated Fork Propose Synthetic Fork

This past week a new idea has been brought to the table concerning the block size debate. Over the past few months, Segregated Witness (Segwit), a proposal that requires 95 percent of miner support, has been stagnant – barely reaching a quarter of the threshold. Now a pseudonym dubbed “shaolinfry” has introduced another method to […]

Bitcoin Core Members Discuss Blockchain Consensus At Chinese Event

Bitcoin Core developers are working hard on facilitating the future of Bitcoin. Several of the team members recently attended a meeting in China, where they touched upon blockchain consensus and open source projects, among other things. It is evident that there are still some technical hurdles to overcome before all Chinese miners get on board […]