Leading bitcoin startups including BitPay, Blockchain.info, Circle, KnCMiner, Bitnet, Xapo and BitGo have come to a consensus to implement Gavin Andresen’s BIP 101, and to expand the current block size to 8 megabytes, after a long discussion with core developers, miners and the companies’ technical teams. A statement of their support was posted on the Blockchain.info blog today signed by Stephen Pair, Peter Smith, Jeremy Allaire, Sean Neville, Sam Cole, John McDonnell, Wences Casares and Mike Belshe.
“We support the implementation of BIP101,” the companies say in the letter. “We have found Gavin’s arguments on both the need for larger blocks and the feasibility of their implementation – while safeguarding Bitcoin’s decentralization – to be convincing. BIP101 and 8MB blocks are already supported by a majority of the miners and we feel it is time for the industry to unite behind this proposal.”
This announcement follows a similar statement released in June by five leading Chinese bitcoin companies, F2Pool, AntPool, BW, BTCChina and Huobi. In this statement, the companies explain their support for 8 megabyte blocks but raise concerns