The bitcoin community is facing one of the most momentous decisions in its six-year history. The bitcoin network is running out of spare capacity, and two increasingly divided camps disagree about what, if anything, to do about the problem.
If these two sides fail to reach a consensus, the bitcoin network could — according to one side, at least — slowly grind to a halt as the number of transactions exceeds the network’s capacity to process them. Even worse, if a fix for this problem is forced through prematurely, it could split the bitcoin network in two and permanently damage public trust in the network.
Read the rest of this post on the original site »
This article originally appeared on Recode.net.
Contributions are a key part of the future of Vox
Readers rely on Vox for clear, nuanced coverage that not only illuminates the issues, but poses solutions, too. And we rely on help from our readers: Advertising and grants cover the majority of our costs, but we count on contributions to help us close the gaps in our budget. In fact, we’re looking to reach 95,000 individual contributions before the end of the year. Will you make the next contribution right now? Our average gift is just $20 — and it goes a long way in helping us keep our work free. Vox is here to help everyone understand what’s shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. Join that mission by making a contribution today.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via