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Wednesday, May 24, 2017

BREAKING: Bitcoin Scaling Consensus Reached. Commentary From Industry Leaders

BREAKING: Bitcoin Scaling Consensus Reached. Commentary From Industry Leaders

Monday, Cointelegraph has reported that a number of leading players of the Blockchain industry have reached a consensus in regards to the Bitcoin scaling solution. This break in the scaling debate stalemate is a new, highly significant boost for the Bitcoin ecosystem.

According to sources, a number of Bitcoin businesses owners, including Barry Silbert (Digital Currency Group), Roger Ver ( and major mining players Jihan Wu (Bitmain) and Valery Vavilov (BitFury), have come to a general agreement at the currently ongoing Consensus conference in New York.

They have agreed to collectively enable the SegWit proposal for Bitcoin scaling, effective immediately. Additionally, their proposed solution includes a countdown to another hard fork, which will enable an increase of the block size limit to 2MB - as opposed to the current limit of 1MB.

This means that the problem of Bitcoin scaling, that has been unresolved for years, could soon become a thing of the past. This news comes quite on time, as the number of transactions being stuck in the backlog has reached record heights in recent days.

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