Sentences with phrase «rules on block size»

Not exact matches

Bitcoin Classic most likely plans to deploy a block size increase to 2 megabyte blocks through a hard fork once 75 percent of hash power agrees, and a four - week «grace period» for all full nodes on the network to switch to the new rules.

Kept intact will be the rules that caused the creation of the cryptocurrency, which hard forked off of the main bitcoin blockchain in August by way of code that increased its block size to 8 MB, up from 1 MB on bitcoin.

Dryja suggested that the community should start first by drawing rough parameters on the size of blocks it is willing to «agree are crazy», ruling out sizes of 1 kilobyte or as big as 1 petabyte.

Designed to serve as a forum about the new effort to boost bitcoin's block size (the rule in the code that effectively puts a constraint on the volume of transactions), Wu had already weighed in by posting everything from news articles to technical tools to advice on when users should sell their bitcoin in exchange for bitcoin cash.

That said, Bitcoin Cash intends to activate new rules that are at odds with the bitcoin network, aiming to boost transaction capacity by increasing the block size to 8 MB and removing Segregated Witness (SegWit), a long - debated code optimization that's likely to activate on bitcoin later in August.