Tag: Bcoin

Bitcoin has a problem; the demand for Bitcoin far outweighs the bandwidth of transaction throughput that the network can sustain. The Bitcoin “highway” is constrained at 1MB per block, or one single analogous lane, which permits a “speed limit” of between 3.3 to 7 transactions per second. For comparison, VISA verifies transactions at a rate of 2000 per second, which…

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After SegWit-2MB, Extension Blocks is the second proposal from the week beginning April 3 that aims to overcome the block size crisis. The proposition is backed by BitPay, Purse and a Lightning developer. Chinese miners seem to like the idea, while some Core developers react slightly irritated but engaged in constructive criticism. Purse is a service that allows you to…

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BTC.com successfully completed midwife duties for the very first Bcoin block that made it onto Bitcoin’s mainnet. Block #457010 timestamped 04:30:51 on March 13 was found; some blocks were orphaned in the making. On February 10, Bcoin, Purse.io’s Bitcoin full node reimplementation of the Bitcoin consensus protocol, was publicly released into the wild. BitPagos had been the first to run…

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In the context of Satoshi Nakamoto’s early warning to Gavin Andresen in 2010 on Bitcointalk against building minority versions of the Bitcoin protocol, secondary implementations were at the time dubbed “menace” to the network. “I don’t believe a second, compatible implementation of Bitcoin will ever be a good idea. So much of the design depends on all nodes getting exactly…

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