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Graphene Compression Merger May Be the Solution to Bitcoin Scalability Issue

July 30, 2018 by Priyeshu Garg at Bitcoin, Blockchain, Development, News

Eight months after presenting a case for Graphene as a solution to the bitcoin cash blockchain’s scalability issue, Bitcoin Unlimited has unveiled its block compression utility that takes care of excessive blockchain bandwidth usage. Presented in November 2017 at a developers conference, Graphene uses what has been described as “crazy...

The Global Village of the Big Block Community

July 5, 2017 by Christoph Bergmann at Bitcoin, Commentary, News, Tech

At the conference “The Future of Bitcoin” in Arnhem, the ‘Big Block’ community met to listen to talks and shake hands. The event expressed a strong belief that on-chain scaling is possible and necessary. Among the many highlights of the event have been a furious presentation of Pseudo-Satoshi Craig Wright...

UASF: The Revolt that Will Not Happen

June 4, 2017 by Christoph Bergmann at Bitcoin, Blockchain, Commentary, News

The User-Activated Soft Fork (UASF) wants to enforce SegWit against the will of the miners. After the movement had gained a growing momentum, it had to gulp serious drawbacks in the past weeks. Neither exchanges, miners nor Core developers stand behind it. Is this the end of the self-declared user’s...

Silbert’s Agreement: How a Broad Alliance of Miners and Companies Declared the end of Bitcoin’s Scaling Wars

May 26, 2017 by Christoph Bergmann at Bitcoin, Blockchain, Commentary, News

Did we, finally, do it? A consortium of Bitcoin companies and miners announced an agreement about the year long fight for an increase of Bitcoin’s capacity; SegWit should be activated soon, and a hard fork will increase the block size limit to 2MB sometime during the next six months. What...

Number of Unconfirmed Transactions Reaches All Time High: Heated Community Discusses Solutions

May 19, 2017 by Christoph Bergmann at Bitcoin, Blockchain, Commentary, News

Never before has the Bitcoin Blockchain seen such a large traffic jam. The number of unconfirmed transactions reached a level, at which it hurts. The Bitcoin economy is not amused; BitPay’s Stephen Pair speaks out with exceptional clarity, while Barry Silbert of the Digital Currency Group tries to establish a...

Feature, Bug or Backdoor? AntBleed Code Enables BitMain to Remotely Shut Down AntMiner

April 27, 2017 by Christoph Bergmann at Bitcoin, News, Tech

The scandals engulfing Chinese ASIC producer BitMain seem never to end. On April 26, a string of code in the AntMiner firmware was disclosed which can remotely shut down some of the mining machines. BTCManager talked with BitMain’s CEO Jihan Wu and a Canadian Miner; a Bug or Feature? On...

Character Assassins for Hire: The Story Behind the ASICBoost & Extension Blocks Scandal

April 24, 2017 by Christine Chiang at Bitcoin, Blockchain, Commentary, News

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...

Maxwell Discovers Potential Covert Use of AsicBoost, Encourages SegWit Activation

April 6, 2017 by Joseph Young at Bitcoin, Blockchain, News, Tech

On April 6, Blockstream CTO and Bitcoin Core developer Greg Maxwell revealed on the Bitcoin development mailing list that a specific ASIC miner manufacturer had been covertly using AsicBoost to increase its mining revenue by at least 30 percent; many sources have reported it is indeed Bitmain, perhaps explaining their...

Probability of Bitcoin Unlimited Hard Fork Execution: Where It Is Now

March 26, 2017 by Joseph Young at Bitcoin, Blockchain, Commentary, News

The majority of the Bitcoin community believes a hard fork execution will not occur anytime soon. Experts and developers including Andreas Antonopoulos, BitGo engineer Jameson Lopp and Charlie Shrem have noted that Bitcoin Unlimited is not ready for production and its policies toward closed development are not being supported by...

Bitcoin Hard Fork: What is the Chance of Survival for the Weak Chain?

March 23, 2017 by Christoph Bergmann at Bitcoin, Blockchain, News, Tech

One chain or two chains? The Bitcoin community fears that the Bitcoin blockchain will split into two persisting chains when Bitcoin Unlimited miners initiate a hard fork, even if it is done with a majority of the hash rate. But is this true? How can the majority chain attack -...

The World’s Biggest Mining Pool Mines a couple of Bitcoin Unlimited Blocks

March 8, 2017 by Christoph Bergmann at Bitcoin, Blockchain, News

AntPool, the world’s biggest Bitcoin mining pool, finally makes its actions speak rather than its words. After complaining about the unsolved capacity problems, the pool mined a couple of Bitcoin Unlimited blocks. But the story is far from clear. You can say a lot of things about Jihan Wu; as...

Bitcoin Bulls Rage On: BTCManager’s Week in Review February 6

February 6, 2017 by Jamie Holmes at News, News Digest

Bitcoin breaks the $1000 handle again, after a harsh reaction to the PBOC announcement of the inspection of Chinese exchanges in January. Also, Bitcoin Unlimited reaches new highs in popularity amongst Bitcoin miners despite building an invalid block and forfeiting the block reward due to a bug in a recent...

Why Roger Ver’s Mining Pool Lost 12.5 BTC because of a Bug in Bitcoin Unlimited

February 3, 2017 by Christoph Bergmann at Bitcoin, Commentary, News, Tech

Bitcoin.com’s mining pool unintentionally built an invalid block and lost the block reward, down to a bug in the newest release of the Bitcoin Unlimited client. To the disappointment of some of the alternative clients, however, Unlimited did not lose popularity with miners due to this bug; in the voting...

What You Need to Know About Bitcoin Unlimited

December 3, 2016 by Christoph Bergmann at Bitcoin, Commentary, News

The alternate Bitcoin Client, Bitcoin Unlimited, has established itself as a grassroots alternative to Bitcoin Core. Unlimited wants to end the block size debate forever by letting the market decide about the ideal block size. Can this run smoothly? Or does Unlimited carelessly play with the risk to destroy Bitcoin?...

The Ballot Regarding Bitcoin’s Future has Begun

November 21, 2016 by Christoph Bergmann at Bitcoin, News, Tech

SegWit or Unlimited? The miners will proceed to vote on how to scale Bitcoin. Everything depends on the decision of the mining pools. If no solution wins, Bitcoin will remain unchanged. You may not have noticed, but Bitcoin is underway with the most public election ever conducted in history. It...

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