The ongoing Bitcoin blocks size debate remains a source of considerable controversy. Despite a meeting taking place between Bitcoin developers over the weekend, there are rumors regarding a possible hard fork to increase the block size. Interestingly enough, this approach was proposed quite some time ago, and the idea was shot down almost immediately.

Hard forking a cryptocurrency – more particularly, the most valuable cryptocurrency in the world right now – is not a decision that should be taken lightly. Albeit this is usually done to address some critical issues, there is no turning back from a decision like that.  Moreover, not everyone in the community might agree with the hard fork decision, which could lead to catastrophic results.

To Hard Fork Bitcoin or Not?

The Bitcoin block size debate has been a critical point of discussion for quite some time now. Over the past year, developers have held several meetings, and come up with a roadmap for development. Unfortunately, that plan of action is not to the liking of a lot of Bitcoin holders, as they want to see this issue resolved once and for all.

Using a hard fork would certainly solve a lot of the block size issues. At the same time, various Chinese mining pools have indicated their Internet infrastructure cannot handle too much of a size increase all at once. Striking a balance between the new proper block size and keeping as many people as possible will not be easy.

Letting the Bitcoin community weigh in on this decision is certainly worth exploring. However, a better way has to be found than what the Ethereum developers have done with their hard fork. Some sources indicate the majority of community members never even voted on the decision, to begin with. However, there are conflicting reports regarding this matter, so do your own research if you want to find out more.

A poll regarding a potential Bitcoin hard fork has appeared on the Coin Dance website. While this is not necessarily an indication of how most of the Bitcoin community members feel, it is still worth keeping an eye on the results. If a hard fork would be the ultimate solution, we must make sure none of Ethereum’s mistakes are repeated.

Source: Coin.Dance

Header image courtesy of Shutterstock

Tags: , , , ,

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.