Tagbitcoin-xt

The Hard Fork From A Legal Perspective

Blockchain law society

In a blog post by Daniel Friedberg, principal of the law firm Riddel Willams PS in Seattle, some of the legal ramifications for the hard fork of Bitcoin have been addressed and raise interesting and critical questions about the future of such projects. The hard fork topic has come to head recently as a vocal and active group of developers has advocated for the change or upgrade of the current...

Plan Emerges To Prevent Two Versions Of Bitcoin

A plan has emerged to heal the rift between the established bitcoin and the newly-introduced Bitcoin-XT by adopting some of the ideas behind Bitcoin-XT but preventing the spread of a different version of the currency, according to Bloomberg. A group of bitcoin backers, including BitPay, Blockchain.info, Circle and KnCMiner.com, wrote a letter this week in support of the existing version of...

Is There A Privacy Backdoor In Bitcoin XT?

DAO

New code advertised by Bitcoin developers Michael Hearn and Gavin Andresen has proven controversial within the Bitcoin community. Bitcoiners are now distressed over what appears to be a privacy backdoor - or bug -  in a new proposed fork. Andresen and Hearn have called the new fork “Bitcoin XT," and designed it to take the place of the existing Bitcoin protocol. The Bitcoin XT project apparently...

CoinWallet Plans To ‘Stress Test’ Bitcoin To Make The Case For a Larger Block Size

CoinWallet, a London, U.K.-based bitcoin wallet, says it will conduct a stress test of the bitcoin network in early September that will render most bitcoin wallet software worthless and create a “nearly 30-day backlog,” according to the International Business Times. They plan to accomplish this by flooding bitcoin wallets with small amounts of bitcoin. CoinWallet’s purpose is to convince...

Bitcoin-Xt Pushing Ahead With Bigger Blocks

Each transaction that occurs on the block chain takes up a little bit of space, and these transactions all get squished into a virtual box (a block). Bitcoin currently operates with a 1MB limit. What this means is that only so much information it can process in each block, this currently comes to roughly seven transactions per second. The discussion recently in the Bitcoin ecosphere has been to...

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