Coinbase CEO Rejects Proposal for Bitcoin Hard Fork in 2017

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Brian Armstrong, CEO and co-founder of bitcoin wallet and sell use Coinbase, has oral out opposite a latest offer introduced as partial of bitcoin’s ongoing scaling debate, job a agreed-upon measures, “too little, too late”.

At a finish of final week, a organisation of representatives from a bitcoin mining and services sector, as good as Bitcoin Core developers, agreed to a plan that concerned support for a due change to bitcoin’s formula called Segregated Witness, followed by a network hard fork – which would need users to download new program to stay concordant with a network – in 2017.

In total, a changes could raise a ability of transaction blocks on a bitcoin network to as high as 4MB, proponents say, yet this would occur over a duration of months.

In a new blog post, however, Armstrong argued a proposal is “missing a mark”, saying his faith that a Segregated Witness offer “is not a good resolution to assistance bitcoin scale” as it overstates a ability boost it would move to a network.

Armstrong wrote:

“If a devise is followed as written, SegWit would yield a somewhat reduction than doubling of ability by Apr 2016. Then we would go another 15 months (until July



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