BtcChina Will Not Use BitcoinXT

BtcChina Will Not Use BitcoinXT
After two famous developer had released anther version of Bitcoin,a long argument became more violent this weekend which seriously impacts Bitcoin community,maybe even cause Bitcoin to split.

The developers and users were arguing about “increase the block size” in past months.

The block records the recent transactions but which has a size limit of 1m.If we increase the size,the Bitcoin network can deal with more transactions to satisfy growing demand.While it will be more difficult for regular users to verify new transactions with nodes,which will cause Bitcoin to be more centralization.

Bitcoin is public and decentralization which means anyone can change its code,so no one can force it to upgrade unilaterally without general consensus,and people have not reached an agreement about increasing the block size.The two famous developers Gavin Andresen and Mike Hearn have released Bitcoin XT,which is anther version to replace Bitcoin core and support to increase the block size.This will force users to choose between Bitcoin Core and Bitcoin XT,which caused Bitcoin to has two versions.

Now Core and XT are compatible and all use the same blockchain,so there is only one digital currency called Bitcoin.But if there are 75% of users accepting XT in January 2016,the block will upgrade to be more size which will not be compatible with Core.It means there will be 25% of users using Core and Bitcoin will be split.

Which one will win finally?
Bitcoin community still can’t reach an agreement after discussing the block size for a few months,and the choice between Core and XT can be considered a public vote.According to the stats,there are 7.7% users accepting XT,which developed pretty quickly.But we don’t know whether there are 75% of users accepting XT next year.

Samson Mow is the COO of Btcchina who is running one of the largest mining pools.A minging pool is that a group of miners converge their resource to increase the success rate of mining.Samson Mow said Btcchina and other Chinese mining pools ” have decided not to use BitcoinXT.The base of Bitcoin is consensus.Changing Bitcoin needs the developers to reach a consensus,otherwise the mining pools have the responsibility to maintain the stability of Bitcoin.”

The Chinese mining pools take up 50% of Bitcoin Hash Rate.There will hardly be 75% of users accepting XT if they refuse XT.

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