22 Feb '16, 3pm

Coinbase CEO Rejects Proposal for Bitcoin Hard Fork in 2017

Coinbase CEO Rejects Proposal for Bitcoin Hard Fork in 2017

Brian Armstrong, CEO and co-founder of bitcoin wallet and exchange service Coinbase, has spoken out against the latest proposal introduced as part of bitcoin's ongoing scaling debate, calling the agreed-upon measures, "too little, too late". At the end of last week, a group of representatives from the bitcoin mining and services sector, as well as Bitcoin Core developers, agreed to a plan that involved support for a proposed change to bitcoin's code called Segregated Witness , followed by a network hard fork – which would require users to download new software to stay compatible with the network – in 2017. In total, the changes could raise the capacity of transaction blocks on the bitcoin network to as high as 4MB, proponents say, though this would happen over a period of months. In a new blog post , however, Armstrong argued the proposal is "missing the mark", stating his...

Full article: http://www.coindesk.com/coinbase-ceo-rejects-bitcoin-hard...

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