BitPay Supports Increase in Bitcoin Block Size Limit

BitPay, the largest bitcoin payment processor has sided with Gavin Andresen’s court by showing its support towards incorporation of BIP 101. In other words, BitPay in one of their blog posts mentioned that the company supports the move to increase bitcoin block size from 1 MB to 8 MB (which is known as BIP 101).

Bitcoin XT has been a topic of serious debate among the bitcoin community for a while now. The debate has ranged ever since Gavin Andresen, the Chief Scientist at Bitcoin Foundation and Mike Hearn proposed Bitcoin XT a few months ago.

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The Bitcoin XT proposal was later changed to incorporate a few changes after receiving inputs from members of the bitcoin community. While there are few who are in favor of a 7MB increase in the bitcoin block size, there are others who are opposed to this idea. The bitcoin block size limit is currently 1 MB, which Bitcoin XT proposed to change to 8 MB. Gavin Andresen and Mike Hearn finally launched a Bitcoin XT fork few days ago. The launch didn’t go will with many bitcoin based entities who are

Read more ... source: TheBitcoinNews