BITCOIN UNLIMITED TO PROVIDE “SEVERAL HUNDRED THOUSAND DOLLARS” FOR BITCOIN PROJECTS

Peter Rizun, known to many simply as ‘Peter R.,’ made a recent summary post on Medium outlining a way for projects which aim to scale within the framework of Bitcoin Unlimited. Bitcoin Unlimited is an ongoing fork of the Bitcoin project which allows for larger blocks. It is an answer to an ongoing debate about how the scaling of Bitcoin should take place, albeit not the most popular.
The fundamental rift in the debate is whether third-party products such as Lightning Network should become the primary mode of Bitcoin transfers in the future, or if the core software itself should simply make more transactions per block possible. Various elements often come to play in the discussions – bandwidth around the globe, the time which large blocks can propagate in, whether or not increasing block size deflates a potential fee market, and more. CCN has covered the topic in-depth, notably here, here, and here.

This post was published at Crypto Coins News on 04/10/2016.