Bitcoin Mining Titan BitFury: No to BIP 101, Yes to Block-size Consensus

Bitcoin Mining Titan BitFury: No to BIP 101, Yes to Block-size Consensus

In anticipation of the Scaling Bitcoin Hong Kong workshop on the 6th and 7th of this month, BitFury has re-established its belief that the current 1 megabyte block-size limit must be changed only if agreed upon by consensus.

The largest mining pool outside of China, controlling some 15 percent of hashing power on the Bitcoin network, maintains that it won’t change its code to allow for bigger blocks through a solution that’s not broadly accepted by the Bitcoin community – such as BIP (Bitcoin Improvement Proposal) 101.

“We will not use a solution if it is not based on a consensus among the Bitcoin community, as we think the idea of consensus is central to the Bitcoin protocol,”

BitFury CEO Valery Vavilov told Bitcoin Magazine. “As Bitcoin Core developers note , Bitcoin is not only software, but also a blockchain protocol. Therefore, we think that the Bitcoin protocol should be developed like other Internet protocols – by a consensus process involving all parties. This process may be lengthy, but it is better than making decisions that don’t consider all points of view.”


Read more ... source: TheBitcoinNews

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