18 Jul '17, 2pm

Bitcoin soars as miners finally move to solve the digital currency's scaling problem

Bitcoin soars as miners finally move to solve the digital currency's scaling problem

Bitcoin miners are signalling their intent to support a new upgrade for the bitcoin blockchain that may solve the digital currency's long-running scaling issue. Several of the largest bitcoin miners (who create new bitcoins and support the blockchain), including AntPool, BitClub, Bixin, BTC.com and BitFury, have started showing their support for bitcoin improvement proposal (BIP) 91, by adding a piece of code to each new block of bitcoins they generate. The miners were not expected to start coding their support for BIP 91 until July 21. Already, 66 percent of the last 144 blocks created signal support for it. The proposal needs 80 percent support to be "locked in" to the blockchain permanently. This will bring relief as it prevents the blockchain splitting into two separate chains, which would effectively create two different coins.

Full article: http://www.cnbc.com/2017/07/18/bitcoin-soars-as-miners-mo...

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