Which Majority? Bitcoin Exchange Accord Reveals Hard Fork …

boxing, ring

A newly released statement from major exchanges today may have stoked tensions in the ongoing bitcoin scaling debate – but it also revealed more about how the confrontation is becoming increasingly complex.

Today, nearly 20 exchanges announced that, should a certain developer group take actions that would split the bitcoin blockchain into two competing networks, the network running software developed by Bitcoin Core would retain the ticker symbol ‘BTC’. Bitcoin Unlimited, the alternative option, would then be advertised as ‘BTU’.

Ostensively aimed at preventing customer confusion, the move has already been highly politicized, with some supporters of the Bitcoin Core development team heralding it as the effective end of the Unlimited project and its particular proposal for redrafting bitcoin’s rules.

“Mining pools may signal Bitcoin Unlimited, but this letter makes it crystal clear that the economy won’t accept it – the best outcome they can hope for is to have their BTU token listed,” former BTCC COO Samson Mow alleged in a statement.

However, to exchange officials, the move is designed not to provoke, but to be forward-thinking in how it safeguards user funds. (A key component of the messaging is that to list

Read more … source: TheBitcoinNews

News from Darknet

Comments

comments

Filed in: Mainstream Bitcoin Tags: ,

You might like:

Bancor Bounce Back? ICO Is Winning Adoption Bancor Bounce Back? ICO Is Winning Adoption
Lithuania's Central Bank Probes 100 Million Euro ICO Lithuania's Central Bank Probes 100 Million Euro ICO
PC Giant Lenovo Seeks Blockchain Validation Patent PC Giant Lenovo Seeks Blockchain Validation Patent
Coinbase. Ripple. Uphold? Investor Greg Kidd Defends Bold Bet Coinbase. Ripple. Uphold? Investor Greg Kidd Defends Bold Bet
Banks Buy Stakes in Blockchain Startup SETL Banks Buy Stakes in Blockchain Startup SETL
Long Blockchain Is At Risk for Exchange Removal Again Long Blockchain Is At Risk for Exchange Removal Again
Bottom Confirmed? Bitcoin at 20-Day High Near $11K Bottom Confirmed? Bitcoin at 20-Day High Near $11K
Record Retest? ETC Looks Poised on Double-Digit Climb Record Retest? ETC Looks Poised on Double-Digit Climb
© 2211 Virtual Mining Bitcoin News. All rights reserved. XHTML / CSS Valid.