A group of bitcoin miners constituting close to 80% of the network hashrate, as well representatives from exchanges, service providers and contributors to the Bitcoin Core development project, have proposed a development timeline for scaling the bitcoin network.
Some of the letter’s signatories were party to a previous statement that voiced opposition to any “contentious hard fork” to the bitcoin network.
According the proposed timeline, Bitcoin Core contributors Matt Corallo, Luke Dashjr, Cory Fields, Johnson Lau and Peter Todd will produce and recommend code for a hard fork to the bitcoin network that would feature a block size increase. The code for this proposal is expected to be made available by July.
This proposal would be presented three months after the release of Segregated Witness, a proposed change to bitcoin’s code that alters the way in which bitcoin transaction signature data is stored.
Representatives for miners AntPool, A-XBT, BitFury, Bitmain, BTCC, BW, F2Pool, GHash.io and Genesis Mining have agreed to support Segregated Witness, expected to be released in April. According to data from Blockchain.info, the larger miners