NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ

Chinese Bitcoin Miners Support Increasing Blockchain Limit

newsbtc
newsbtc
4 years ago
2 mins read
Chinese Bitcoin Miners Support Increasing Blockchain Limit

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The need to increase the blockchain limit has been an ongoing debate these days, as the current size limits the network’s capacity to verify transactions. At the moment, the protocol restricts the size to 1MB for every block mined on the network, making it too long to complete.

The lack of central authority to make this kind of decision for the bitcoin industry has been one of the biggest reasons why this debate hasn’t progressed, although some groups have started discussions. Some have even proposed increasing the block size to 20MB while a cartel of Chinese bitcoin miners say that 8MB might be enough for now.

Blockchain Limit at 8MB

According to a post on Reddit:

“China’s five largest mining pools gathered today at the National Conference Center in Beijing to hold a technical discussion about the ramifications of increasing the max block size on the Bitcoin network. In attendance were F2Pool, BW, BTCChina, Huobi.com, and Antpool. After undergoing deep consideration and discussion, the five pools agree that while the block size does need to be increased, a compromise should be made to increase the network max block size to 8 megabytes. We believe that this is a realistic short term adjustment that remains fair to all miners and node operators worldwide.

Why upgrade to 8MB but not 20MB?

1.Chinese internet bandwidth infrastructure is not built out to the same advanced level as those found in other countries.

2.Chinese outbound bandwidth is restricted; causing increased latency in connections between China & Europe or the US.

3.Not all Chinese mining pools are ready for the jump to 20MB blocks, and fear that this could cause an orphan rate that is too high.

The bitcoin miners of China agree that the blocksize must be increased, but we believe that increasing to 8MB first is the most reasonable course of action. We believe that 20MB blocks will cause a high orphan rate for miners, leading to hard forks down the road. If the bitcoin community can come to a consensus to upgrade to 8MB blocks first, we believe that this lays a strong foundation for future discussions around the block size. At present, China’s five largest mining pools account for more than 60% of the network hashrate. Signed, F2Pool, Antpool, BW, BTCChina, Huobi June 12th, 2015″

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Comments 1

  1. Toka Zviadauri says:
    10 years ago

    i can’t see what is in these block size incresing bad i know one that when increase block size then will be block more transaction and cause miners more have hight profitable but bad side what is ?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 1

  1. Toka Zviadauri says:
    10 years ago

    i can’t see what is in these block size incresing bad i know one that when increase block size then will be block more transaction and cause miners more have hight profitable but bad side what is ?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

3 low-cap altcoiny, ktoré zaznamenávajú veľkú akumuláciu, keď sa altcoin sezóna rozbieha

V druhej septembrovej týždni index altcoin sezóny dosiahol 80 bodov, čím oficiálne vstúpil do fázy zrýchlenia. V tomto období kapitál...

Kováč Martin 2 hours ago

Solana Sees Institutional Accumulation: 413,075 SOL Moved Off Exchanges In Hours

Solana has been in the spotlight after delivering a powerful rally, surging more than 50% since August and climbing to...

Sebastian Villafuerte 2 hours ago

美聯儲降息開啟 迷因幣獵季來臨? Snorter Bot代幣率先示範

隨著美聯儲在今天的FOMC會議上預計啟動降息,傳遞出的信號很明確:美國經濟增長已放緩到衰退風險高於通脹風險的程度。 對加密市場來說,這通常是利好。降息等於向市場注入更多流動性,而歷史經驗表明,資金往往...

estherw 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

crypto-bitcoin-pret-a-depasser-150-000-xrp-dogecoin

Point marché crypto : Bitcoin prêt à dépasser les 150 000 $, XRP retombe et Dogecoin inquiète

evanss 11 minutes ago
$ETH Remains Strong Despite Treasuries’ Downturn: Best Altcoins to Buy

$ETH Remains Strong Despite Treasuries’ Downturn: Best Altcoins to Buy

Aaron Walker 56 minutes ago
Solana’s Meme Ecosystem Explodes: $PUMP Pumps 77% as Snorter Joins the Hype

Solana’s Meme Ecosystem Explodes: $PUMP Pumps 77% as Snorter Joins the Hype

Aaron Walker 1 hour ago

Premium Sponsors

Press Releases

  • Najlepšie altcoiny na kúpu, kým cena Solany dosahuje...

    27 minutes ago
  • ドージコイン 今後:ETF上場前の蓄積と価格分析が示す「事実売り」の可能性

    ドージコイン...

    1 hour ago
  • リップル 今後の行方:FOMC前に3ドルを維持、クジラが大量売却

    リップル...

    2 hours ago
  • 2025年9月に注目すべき仮想通貨プレセール一覧

    ...

    2 hours ago
  • Citiが年末目標を4,300ドルと予測、市場のセンチメントは交錯

    イーサリアム...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.