to increase, slowly closing in on the 50 mark, and it has sent the Bitcoin ecosystem into a frenzy. We rely on advertising to help fund our award-winning journalism. While technically Segwit doesnt change the maximum block size, it does allow for more transactions to be put into a single block and provides immediate relief to some of the network congestion. The miners threatening a hash power attack and the developers threatening a proof-of-work algorithm change has become a nuclear standoff of sorts. Mutually assured destruction with neither side willing to make the first move. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, kara stein bitcoin or economics. BU creates a marketplace for defining the block-size similar to how Ethereum has a marketplace for gas prices.
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The miners, who are largely based in China. They would prefer to have more control over the network and transaction fees, so the miners have proposed another solution, which is called Bitcoin Unlimited. So now there isnt even a place for shared conversation to take place, just two sides shouting into their respective echo chambers. We've noticed you're adblocking. Chaos is a ladder. As of a couple weeks ago, both the Segwit and Bitcoin Unlimited proposals had similar miner support, around 30 each. In response, the miners have threatened to use their majority hashing power to force the implementation of Bitcoin Unlimited by forking the Bitcoin network and mining the longer chain. The developers that work on Bitcoin Core, which is the C Bitcoin client that almost everyone uses, have built a solution to the scaling problem called Segregated Witness or Segwit.