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Bitcoin Xt History

The Hidden History Of Bitcoin Unlimited

The Hidden History Of Bitcoin Unlimited

Apr 8, 2017 at 09:30 UTC|UpdatedJul 19, 2017 at 16:48 UTC Paul Elliot-Ennis is a lecturer and assistant professor in management information systems in the College of Business, University College Dublin, while Rachel-Rose O'Leary is an artist and writer researching cryptographic systems. In this guest feature , Elliot-Ennis and O'Leary retrace the history of Bitcoin Unlimited , a bitcoin implementation seeking to become the dominant software on the networkthrough a solution to the network's longstanding scaling debate. In the midst of the scaling debate, it can be difficult to uncover the genealogical roots of the various competing projects. The internet operates at a clip that renders analysis of how an open-source project emerged closer to detective work than it should be. Add into the mix rumors, innuendo and disinformation and one really has their work cut out for them. In certain cases, personalities might transcend the murk and become quasi-official figures, as evident in the proselytizing of Andreas Antonopoulos, the 'let the code speak for itself' quietism of Pieter Wuille, or the informed whimsy of Samson Mow. However, it is not always the case that important figures within the cryptocurrency ecosystem are visible at all, even when their actions have significant impact on the network. This is especially true with the case of Bitcoin Unlimited (BU) where, in contrast to the well-known developers associated with Bitcoin Classic (Gavin Andresen) and Bitcoin XT (Mike Hearn), the key developers of BUare not familiar names. A little bit of history, then, would not be remiss in such an atmosphere - if for nothing more than to make clear that, in the end, the two sides of the debate are populated by pretty normal folk who are just happy to disagree on a pretty arcane s Continue reading >>

The Great Bitcoin Scaling Debateatimeline

The Great Bitcoin Scaling Debateatimeline

The Great Bitcoin Scaling Debate ATimeline Why have so many attempts to scale Bitcoins blockchain failed? This timeline chronicles the repeated attempts to scale Bitcoins blockchain, and details how each attempt has so far been unsuccessful. It covers all important dates in the scaling debate, focusing on how and why alternative implementations of Bitcoin have sprung up in an effort to scale the blockchain to a larger block sizes. A brief overview of why the block size of 1 MB has never increased: Efforts to increase the block size of Bitcoin began with appeals from developers like Gavin Andresen, Jeff Garzik, and Mike Hearn as early as 2011. They anticipated a time when the rate of transactions would exceed the available space in blocks and sought to increase the block size limit a change that might seem straightforward. The block size was put in place to limit the possibility that someone could cheaply spam the network. Sending a large number of transactions was cheap, and it would have been possible to crowd out other transactions for a small investment . The spam control mechanism persists in the form of the block size limit of 1 MB, which in turn limits the transactions per second on the network to about three. While every effort to scale Bitcoin has so far failed for a variety of reasons, what they were seeking to accomplish is still a problem that needs fixing. Developers working on Bitcoins main Github repository agree that a block size increase needs to happen, but they have not yet established a way to do this with broad consensus. And they seem to have given up trying for a hard fork block size increase, working towards off-chain solutions that do not require the building of network-wide consensus. The most recent attempt to increase the base block size of B Continue reading >>

Bitcoin Hard Forks History

Bitcoin Hard Forks History

Hard forks refers to the underlying blockchain of a digital currency forks into 2 chains initially due to the underlying rules change. After a hard fork, the blockchain conforms to the revised (upgraded) rules is only considered and accepted by nodes that support the new rules, whereas the original blockchain conforms to the original rules is only recognized by nodes that support the original rules. That is, the new rules are not compatible with the old existing rules. Think of hard fork as a possiblepermanent divergence of ablock chain that might result in splitting a chain into two, thus producing an extra new coin for every existing coin. Digital currency build upon protocol and rules. For example, original Bitcoin protocol/rule is capable of processing 3-7 transactions per second, which is way too low for Bitcoin to become a transaction currency. Therefore, they were many thoughts to solve this 'problem'. Bitcoin has other 'problems' too. For another example, wouldn't it be better if miners can mine coins using GPU and not necessary need to have ASIC based mining hardware? In order to 'solve' this particular 'problem', new rules were proposed to change the mining algorithm to not in favor of miners using ASICs. To date, proposals were put in action to solve these 'problems' involve increasing block size limitation (e.g. BCH, B2X), or segregating some non-transactoin data from the block (e.g. Segregated Witness). There were many hard forks in Bitcoin history. Some of them failed for a reason or two - lack of consequent support, buggy software, When a hard fork failed to go on, the new chain wouldn't last too long after the split. For example, Bitcoin Unlimited , Bitcoin Classic , Bitcoin XT [1] are among the dead list. Ever wonder what successful hard forks had happ Continue reading >>

A History Of Bitcoin Hard Forks

A History Of Bitcoin Hard Forks

By Nathan Reiff | Updated April 25, 2018 3:24 PM EDT In early 2009, the mysterious cryptocurrency developer (or team of developers) working underthe alias Satoshi Nakamoto released the first software program that implemented the digital currency bitcoin . Since then, bitcoin has gone on to not only gain massive appeal across theglobebut also to inspire hundreds of other digital currencies. Many of these cryptocurrencies make use of aspects that were already inherent in Satoshi's initial program and concept. Others take the bitcoin model and adapt or attempt to improve upon it. In some cases, bitcoin has spawned variations which are based on the same underlying concept and program but which are distinct from the original. In these situations, the bitcoin blockchain has undergone a process known as forking ,through which the blockchain itself is divided into two distinct entities. It is through this forking process that various digital currencies with names similar to bitcoin have come to be: bitcoin cash , bitcoin goldand others. For the casual cryptocurrency investor, it can be difficult to tell the differencebetween these cryptocurrencies and to map the various forks onto a timeline. Below, we'll walk through many of the most important forks to the bitcoin blockchain over the past several years.(See also: Can Bitcoin Hard Fork? ) In 2009, shortly after releasing bitcoin, Satoshi mined the first block on the bitcoin blockchain. This has come to be referred to as the Genesis Block ,as it represented the founding of the cryptocurrency as we know it. Satoshi was able to make numerous changes to the bitcoin network early on in this process; this has become increasingly difficult and bitcoin'suser base has grown by a tremendous margin. The fact that no one person or group c Continue reading >>

Bitcoin Cash - Wikipedia

Bitcoin Cash - Wikipedia

Forked on 1August 2017; 4 months ago(2017-08-01) Bitcoin Cash also known as BCash (BCH) is a hard fork of the cryptocurrency bitcoin . The fork occurred on August 1, 2017. [3] On July 20, 2017 Bitcoin Improvement Proposal (BIP) 91, aka Segregated Witness , activated. [4] [5] [6] Some members of the bitcoin community felt that adopting BIP 91 without increasing the block-size limit would simply delay confronting the bitcoin scalability problem and that it favored people who wanted to treat bitcoin as a digital investment rather than as a transactional currency. [7] [8] The plan to do a hardfork , was first announced by Bitmain , and subsequently developers took interest in the project. [9] The project was originally referred to by Bitmain on their corporate blog as "contingency plan," which the ASIC bitcoin mining hardware manufacturer would launch if BIP 148 (a User Activated Soft Fork ) succeeded. [10] [11] The Bitcoin Cash name was originally proposed by Chinese mining pool ViaBTC. [10] [9] The first implementation of the Bitcoin Cash protocol called Bitcoin ABC was revealed by Amaury Deadal Nix Secht at the Future of Bitcoin conference in Arnhem, the Netherlands. [9] The Bitcoin Cash hard fork was announced to take place on August 1, 2017. Upon launch, bitcoin cash inherited the transaction history of the bitcoin currency on that date, but all later transactions were separate. Block 478558 was the last common block and thus the first Bitcoin Cash block was 478559. [12] Bitcoin Cash cryptocurrency wallet started to reject BTC block and BTC transactions since 13:20 UTC, August 1, 2017 because it used a timer to initiate a fork. It implements a block size increase to 8 MB. One exchange started Bitcoin Cash futures trading at 0.5 BTC on July 23; the futures dropped to 0 Continue reading >>

Welcome - Bitcoin Xt

Welcome - Bitcoin Xt

Bitcoin XT is an implementation of a Bitcoin full node that embraces Bitcoin's original vision of simple, reliable, low-cost transactions for everyone in the world. Bitcoin XT originated as a series of patches on top of Bitcoin Core and is now a independently maintained software fork. See our notable features . We do deterministic builds so anyone can check the downloads correspond to the source code . The XT mission statement defines what the project believes is important: commitment to these principles are what differentiates us from Bitcoin Core. We try to follow Satoshi's original vision, as it is that vision which brought the Bitcoin community together. Scaling the network up to handle user demand is important, even if that means the network changes along the way. It's what Satoshi wanted and the idea of a global system used by ordinary people is what motivated many of us to join him. XT provides people with information they need, even if using it requires them to make risk based decisions. For example: We believe unconfirmed transactions are important. Many merchants want or need to accept payments within seconds rather than minutes or hours. XT accepts this fact and does what it can to minimise the risk, then help sellers judge what remains. It is committed to the first seen rule . We will not adopt changes that make unconfirmed transactions riskier. Lightweight wallets are important. Most users cannot or will not run a fully verifying node. Most of the world population does not even own a computer: they will experience the internet exclusively via smartphones. These users must sacrifice some security in order to participate, so XT supports whatever technical tradeoffs wallet developers wish to explore. Decision making is quick and clear. Decisions are made acco Continue reading >>

Bitcoin Xt - Bitcoin Wiki

Bitcoin Xt - Bitcoin Wiki

it later gained significant notoriety and support after its early adoption of BIP 101 in 2015, giving it importance in the block size limit controversy . [1] After Andresen's resignation from the position of Bitcoin Core maintainer, he and Mike Hearn organized Bitcoin XT to address several controversial ideas lacking the consensus required to be implemented in Bitcoin Core. [2] BIP 101 was implemented in Bitcoin XT on August 6, 2015 [3] and released on August 15. [4] If 75% of the last 1000 blocks were observed to have particular version bits set, it would have ceased enforcing the 1 MB block size limit and also have added a few new rules. However, this threshold was never achieved and no new XT blocks are being created today. In January 2016, BIP 101 was removed from Bitcoin XT and replaced with the one-time block size increase to 2 MB present in Bitcoin Classic . [5] In the year following this change, adoption of Bitcoin XT decreased dramatically, with fewer than 30 nodes remaining by January 2017. [6] Later attempts by other codebases to increase the block size to 2 MB including Bitcoin Classic and SegWit2x have also failed. [7] Miners that side with Bitcoin XT will produce blocks with a new version number. [8] This indicates to the rest of the network that they support XT. [8] When 75% of the last 1000 blocks are new-version blocks, these miners will automatically abandon Bitcoin and begin mining on a new Bitcoin XT blockchain. [8] This will begin after a waiting period of two weeks in hopes the economy in this time may force anyone who hasn't switched yet to do so. [8] Users and miners running full Bitcoin nodes will reject the XT blockchain starting with the first block that is larger than one megabyte in size, and thus be unaffected provided it fails to achieve Continue reading >>

Bitcoin Forks Chronology The Ultimate List Of Forks

Bitcoin Forks Chronology The Ultimate List Of Forks

Bitcoin Forks Chronology The Ultimate List of Forks By Jack M In Explained , Featured , Uncategorized Cash, Gold, Segwit2X? All these Bitcoin forks create more confusion for you in this crypto world? You have nothing to be afraid with the right knowledge. It happened before and it will happen again for sure. You should accept that this is how the technology works, and if you believe in a decentralized future, the freedom of creating your own Bitcoin is one of the rights anyone in the space has. Heres your complete list of Bitcoin past and current forks. In January 2009, history was made when the mysterious Satoshi Nakamoto released the first software program implementing Bitcoin . Description: Following the release of Bitcoin, Satoshi mined the first Bitcoin block (also called the Genesis Block ). As you can see from the picture, the software is version 0.10. This means that it will be greatly improved and constantly updated in the future. When Satoshi was the only one mining Bitcoin with a few pioneers, this wasnt a problem. When the network grows to a few million, then billions, of dollars changes become much more sensitive. Moreover, Bitcoin is aimed to be free of centralized authority so it cannot be one person or group who alone decides what should be updated. Algorithm type: Proof of Work (based on Sha256) Difficulty time: every 2,096 blocks (~2 weeks) Number of transactions per second: 7 max (4.4 on average) For an update to be implemented, anyone can submit a BIP . BIP stands for Bitcoin Improvement Proposal. Its a pretty straightforward proposal. It proposes to update some of the Bitcoin code (the protocol itself or its documentation). Bitcoin Core is the team maintaining the most popular Bitcoin client, so they review the proposal with the community. If there Continue reading >>

A (brief And Incomplete) History Of Censorship In /r/bitcoin

A (brief And Incomplete) History Of Censorship In /r/bitcoin

A (brief and incomplete) history of censorship in /r/Bitcoin Please do not use the censored /r/bitcoin or Bitcointalk. Use /r/btc instead. The free and open discussions on this forum help individuals and the Bitcoin community achieve Truth. Everyone has some wisdom or knowledge to contribute to a discussion, and everyone who reads the discussion and gains that knowledge gets closer to the Truth. This is much more effective than having truth dictated by a handful of moderators or voted on by an electorate. -Theymos, in a post on Bitcointalk in 2013 . Anyone who has been following Bitcoin closely over the past couple of years should by now be well aware of the issues being debated and the existence of censorship in some of Bitcoins most prominent communities. For the unaware, a primer: The Bitcoin network is currently at max load, and today is capable of processing approximately three transactions per second. This was not part of the original design of the Bitcoin protocol, and the 1MB block size limit was added in 2010 by Satoshi Nakamoto himself as a temporary anti-spam measure. Because bitcoins were so cheap at the time, and the number of bitcoin users so few, making transactions on the bitcoin network was effectively free. The concern was that a malicious entity could simply flood the network with transactions, filling up blocks and bogging down transaction speeds for legitimate users. Because transactions were so cheap to make, such an attack would have cost the perpetrator very little to pull off, and could have crippled the entire bitcoin network while it was still in its infancy. Former bitcoin lead maintainer Gavin Andresen addressed this attack in a blog post , writing: The block reward was 50 BTC back then, so miners could sell a blocks worth of coin for about Continue reading >>

Coin Dance | Bitcoin Xt Nodes Summary

Coin Dance | Bitcoin Xt Nodes Summary

There are currently 10797* nodes running on the Bitcoin network. Added new Bitcoin Cash / Bitcoin Fee comparison chart. Community-managed Bitcoin Cash node information. Added Bitcoin & Bitcoin Cash node checker tool. Historical hashrates chart for Bitcoin Cash. Allow viewing historical record of previous proposals on both BTC and BCH chains. Great! Your submission is now pending approval. Uh Oh! Please fill in all required form fields correctly. Network upgrades in progress Service will be intermittent. Coin Dance filters duplicate nodes by address, so individuals running more than one node at a given address are only counted once. This helps give (although does not guarantee) a better picture of node decentralization/ownership, as it is understood that a single party running multiple nodes at a centralized location doesn't provide any additional value to the network. In addition to this, Coin Dance also ignores non-listening nodes which have a maximum of only eight outbound peers. Continue reading >>

Bitcoin's Forked: Chief Scientist Launches Alternative Proposal For The Currency

Bitcoin's Forked: Chief Scientist Launches Alternative Proposal For The Currency

Bitcoin's forked: chief scientist launches alternative proposal for the currency The bitcoin wars have begun, as Bitcoin XT squares off against the classic flavour of the cryptocurrency Last modified on Tue 21 Feb 2017 12.52EST A visitor looks at a display featuring Bitcoin and the Bitcoin exchange rate since 2014, at the National Museum of American History.Photograph: Michael Reynolds/EPA Cryptocurrency bitcoin is facing civil war, with two high-profile developers announcing plans to split the code that underpins the network. Known as a fork, the new version of bitcoin (dubbed Bitcoin XT) would support more transactions per hour, at the cost of increasing the amount of memory required to hold a full database of all the bitcoin transactions throughout history, known as the blockchain. It is backed by Mike Hearn and Gavin Andresen, two of the most senior developers involved in the bitcoin project. Both are involved in the Bitcoin Foundation, the non-profit group that oversees the currencys development: Hearn is the former chair of the foundations law and policy committee, while Andresen is the chief scientist of the foundation. In a post on the bitcoin developer mailing list, Hearn said that he felt a fork was the only option for solving the deadlock within the community: I feel sad that its come to this, but there is no other way. The Bitcoin Core project has drifted so far from the principles myself and many others feel are important, that a fork is the only way to fix things. The key difference between Bitcoin XT and the other version of bitcoin, known as Bitcoin Core, is size of the blocks into which transactions get grouped every 10 minutes. Core supports a maximum block size of 1mb, which XT increases to 8mb. Hearn, and the other supporters of XT, argue that that Continue reading >>

A Brief History And Products Of Bitcoin Hard Forks

A Brief History And Products Of Bitcoin Hard Forks

A Brief History and Products of Bitcoin Hard Forks A Brief History and Products of Bitcoin Hard Forks What You Need to Know About Bitcoin Hard Forks A mysterious cryptocurrency developer, probably group of developers, with a codename Satoshi Nakamoto surfaced back in 2009 and launched the first software program that implemented the cryptocurrency Bitcoin . Bitcoin, since its creation, had not only inspired the creation of thousands of other cryptocurrencies generally called altcoins but has gained huge acceptance across the globe. Where a number of this altcoins copied some aspects inherent in Satoshis original program and concept, other altcoins made a notable improvement on the bitcoin concept and model. And yet in some cases, some altcoins are a replica of bitcoin with the same underlying concept and program but are slightly different from the original Bitcoin. In such cases, the bitcoin blockchain has undergone a process known as forking, in which the bitcoin blockchain itself is divided into two separate entities. It is through forking that several cryptocurrencies with a similar name to bitcoin were made, such as bitcoin cash, bitcoin gold etc. And it may be difficult for a casual investor to differentiate between these cryptocurrencies and to map the different hard forks onto a timeline. After the creation of Bitcoin in 2009, the first block, referred to as Genesis Block, was mined by Satoshi on the bitcoin blockchain. This represents the origin of Bitcoin as history has it. A lot of changes was made to the bitcoin network by Satoshi in this process; making such changes now has become more and more difficult as the bitcoins userbase has grown by a great margin. What makes the process of changing or updating the system more difficult is the fact that no single in Continue reading >>

Bitcoin Xt

Bitcoin Xt

Bitcoin XT is a digital floating exchange that is pegged to the U.S. dollar like in Forex exchange. First announced in 2015 Bitcoin XT, a new version of the Bitcoin software separate from Bitcoin Core has recently been released. The essence of the novelty is increasing the size of blocks from one megabyte to eight megabytes. This represents a so-called hard fork in the system. Bitcoin was released in 2008 by an unknown person under the name Satoshi Nakamoto and described in the document called white paper as a Peer-to-Peer Electronic Cash System. This roadmap to Bitcoin described the use of a peer-to-peer network as a solution to the problem of double-spending, with transaction details added to the end of blockchains. Managing the blockchains required substantial computational power in order to maintain security. At the heart of bitcoin is its software, which referrers either to Bitcoin or Bitcoin Core. From the outset, the Bitcoin community has proposed a number of improvements to the software, often focusing on increasing the size of blocks in order to improve transaction speed. Bitcoin Block is a set of new unique transactions recently made in the Bitcoin network. Blocks connect all transactions together. Afterwards, transactions are combined into single blocks and are verified every ten minutes through mining. It means that miners people who provide the computing power required maintaining records of Bitcoin transactions enter the unconfirmed transactions pool, take this transaction and others alike and check their validity. Each time a block is completed it gives way to the next block in the blockchain, with blocks in Bitcoin Core limited to one megabyte. As the number of transactions increased, this size limit resulted in the development of bottlenecks that slowe Continue reading >>

Faq - Bitcoin Xt

Faq - Bitcoin Xt

Download and run from our website as normal. Bitcoin XT uses the same data directories and configuration as Bitcoin Core, so if you were previously running that you won't need to download the block chain again. On first run you will need to reindex the blockchain by adding the -reindex switch. # Is there any risk involved in running XT? Bitcoin XT is fully compatible with the Bitcoin Cash (BCH) network. When running on the Bitcoin (BTC) network, segwit transactions cannot be fully validated. Bitcoin XT was created due to a series of fundamental disagreements between Bitcoin core developers. The disagreements revolve around questions like "Should the block chain grow to match user demand?", "What data should the Bitcoin protocol provide to clients?" and "How should technical decisions be made?". The biggest and most intractable disagreement is about the block size: the XT community believes the block size must grow in order to support Bitcoin's expanding user base. The Bitcoin Core project has made no move towards increasing the limit, in order to incentivise the creation and use of alternative, non-block chain based financial systems such as the so-called Lightning network. This is an irreconcilable difference of vision that has proven impossible to surmount. Additionally, the Bitcoin Core developers have made statements that imply they no longer care about unconfirmed transactions or lightweight peer to peer wallets, although both are relied upon by many users. Without the Bitcoin Cash fork these features would not have remained viable. The final area of disagreement is around how decisions are made. Bitcoin Core has no process for resolving disagreements amongst its developers or defining who those developers actually are. After a long series of attempts to find comp Continue reading >>

Roger Ver: From Bitcoin Jesus To Bitcoin Antichrist

Roger Ver: From Bitcoin Jesus To Bitcoin Antichrist

Crypto OG. Talks about Bitcoin and sometimes other cryptocurrencies. Roger Ver: From Bitcoin Jesus to Bitcoin Antichrist Roger Ver, the delusional guy that lies more in a single day than Mark Karpeles did in his entire life, is at it again. Most of my dear readers have probably heard about Roger Ver, otherwise you wouldnt read this article, but maybe not everyone knows the full story. Roger was born in the US, moved in 2005 to Japan, bought a St Kitts and Nevis passport and renounced his US citizenship in 2014. Roger is also an ex-convict, he was sentenced to 10 months in prison for selling explosives on Ebay. Those explosives were illegal fireworks, which doesnt sound that bad, but imagine you or someone in your family being a delivery guy unknowingly carrying/delivering illegal fireworks, sounds a lot worse now doesnt it? Critics might say that it was a long time ago since it was in 2002 and he was young and stupid. All this might be true but I think its important to paint the complete picture of how he thinks and acts. He was an early investor and adopter of Bitcoin, his website was one of the early ones that accepted Bitcoin as payment. According to some well-informed people his total worth was around 400,000450,000 BTC back in 2014. Of course since then he has funded some Bitcoin companies and probably spend a good chunk of it. Ver has been a very vocal Bitcoin advocate for many years and thats why he was named Bitcoin Jesus. However his narrative has changed over the last couple of years: from being a positive force trying to push Bitcoin forward, he has now become a negative force trying to cripple the system. I know that this is a boring topic and it has all been discussed a million times and a million times Ver has been proved wrong but Ill give you the tldr;. Continue reading >>

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