1639 views 0 comments

World’s Sixth Largest Mining Pool Is Trialling Bitcoin Unlimited

by on September 3, 2016
 

Bitcoin Unlimited continues to gain support from miners all over the world. Scalability for the popular cryptocurrency remains a key hurdle that needs to be overcome as soon as possible. Increasing the size immediately and without further delays is a favorable solution right now. ViaBTC, the world’s sixth largest bitcoin mining platform, is now testing Bitcoin Unlimited.

Bitcoin Unlimited Gains Support From ViaBTC

The ongoing Bitcoin block size debate has been causing a lot more controversy than anything else recently. For the longest time, community members and developers have been trying to come up with a solution. If Bitcoin is ever to scale as a global payment alternative, bigger blocks are needed. A larger block size would allow the Bitcoin network to process more transactions every 10 minutes.

Bitcoin Unlimited is one of the projects trying to come up with a solution. While not everyone may see eye-to-eye with this concept, support for the solution is growing. Recently, the project received a significant grant to fund future development of this idea. Many people saw this as a vote of confidence, albeit it is no guarantee for success.

Now that the world’s sixth largest Bitcoin mining pool is testing Bitcoin Unlimited, things are looking up. It is important to note there are currently no plans to switch from Bitcoin Core to Unlimited. The pool owners are simply testing the solution to see how it would affect their performance. ViaBTC is, similar to most large Bitcoin mining operations, based in China.

Despite only being around for two months, ViaBTC has been climbing the ranks rather quickly. With a maximum hashrate of 120 petahash/second, ViaBTC is quickly becoming a fan favorite. Decentralization is a vital aspect of cryptocurrency, and the same applies to mining pools.

It is good to see more mining pools experiment with alternative branches of Bitcoin development. While this testing will not indicate the switch to Bitcoin Unlimited anytime soon, it is still significant news.ViaBTC is setting the tone for other mining pools around the world. Bitcoin Unlimited should not be overlooked; that much is certain.

Header image courtesy of Shutterstock

Enjoyed this article?

If you liked this article, sign up for the newsletter on the main page, and make sure to follow Fintechist on Twitter! and Facebook

Be the first to comment!
 
Leave a reply »

 

Leave a Response