Leading Bitcoin Blockchain infrastructure provider and transaction processing company BitFury has announced their support for 2 megabyte block size increase with Bitcoin Classic.
“BitFuryGroup – the largest private miner and security provider is ready to move forward and support 2MB increase with Bitcoin Classic,” announced BitFury Group co-founder and CEO Valery Vavilov.
Currently, over 72% of mining pools support Bitcoin Classic. Amongst them, BitFury which controls around 13% of the mining share have contributed the third largest mining pool support behind AntPool and F2Pool. The largest mining pools and transaction processors in the industry including KnCMiner have also showed strong support for the 2 megabytes block size increase proposal.
Essentially, Bitcoin Classic is a temporary solution to double the Bitcoin block size until a better solution is found. Due to the misinterpretation from the mainstream media regarding the controversial statement of former Bitcoin lead developer Mike Hearn, the Bitcoin community strongly proposed an implementation of a temporary system, instead of gearing towards a hard fork.
“We call our code repository Bitcoin Classic. It starts as a one-feature patch to bitcoin-core that increases the blocksize limit to 2 MB. We will have ports for master and 0.11.2, so that miners and businesses can upgrade