Aaron van Wirdum is the former Editor-in-Chief of Bitcoin Magazine and author of The Genesis Book: The Story of the People and Projects That Inspired Bitcoin.
The central idea behind Bitcoin Unlimited — specified in “Bitcoin Unlimited Improvement Proposal 001” (BUIP001) — is to hand control of Bitcoin’s block size limit to users and miners. Or perhaps, more accurately, to make this control more explicit and easier to handle. Instead, Bitcoin Unlimited relies on a philosophy often referred to as “Emergent Consensus.”
The central idea behind Bitcoin Unlimited — specified in “Bitcoin Unlimited Improvement Proposal 001” (BUIP001) — is to hand control of Bitcoin’s block size limit to users and miners. Or perhaps, more accurately, to make this control more explicit and easier to handle. However, this control does come at the expense of Bitcoin’s strong and automated consensus mechanism. With BUIP001, there is a number of scenarios in which different users end up on different chains — either temporarily or permanently.
It appears the global fight against Bitcoin money laundering has turned up a notch.Last week, more than 400 financial investigators from money laundering, cybercrime and financial intelligence units, as...
In the quest for a reliable proof of stake algorithm, IOHK CEO and Ethereum Classic developer Charles Hoskinson believes his company has made a breakthrough.Charles Hoskinson was one of...
BUIP001 — drafted by Bitcoin Unlimited lead developer Andrew Stone — disposes of the one-megabyte block size limit protocol rule entirely, and replaces it with three configurable options. Two of these are configurable by all node operators, which include regular users as well as miners. And a third option is only for miners.
Dutch public prosecutors and the tax inspection agency are ramping up their fight against bitcoin money laundering this year.According to research conducted by Dutch financial newspaper Het Financieel Dagblad...
If the split between Ethereum and Ethereum Classic wasn’t definitive before, it is now.Ethereum Classic, the project born out of rejection of Ethereum’s reversal of The DAO, hard forked today. With that, Ethereum...
Lightning Labs, one of the prominent companies working to realize thelightningnetwork, announced this week the alpha release of the open-source lightning daemon they've been spearheading: LND. While only compatible with...
The decentralized bitcoin and altcoin exchange Bitsquare has decided that it must rebrand or face a costly legal battle.Launched last year, Bitsquare is the first decentralized bitcoin and altcoin exchange of...
It is well-known that Bitcoin’s upcoming lightning network promises instant confirmations and low fees. What is not as well-known is that this highly anticipated scaling layer is actually not...
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