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Antpool Signals for Bitcoin Unlimited

The Bitcoin block size debate heated up on Monday spil Antpool officially entered the fray. The largest mining pool is now signaling for Bitcoin Unlimited (BU).

A Whale Comes in the Water

Antpool controls the largest percentage of Bitcoin’s mining hashrate, presently at 15.28 procent of the total mining power. Despite previously refraining from signaling for any Bitcoin client, the pool began mining its very first BU-signaling block, number 456039, on Monday. At press time, five BU-signaling blocks have bot mined by Antpool ter total, signifying a third of the total number of blocks mined by the pool during that time.

Thesis blocks can be tracked on several different websites such spil Coin Dance which shows BU achieving a fresh high, at 22.8 procent of the total network hashrate. Meantime, rivaling client Segwit is signaling at 25.7 procent, down a duo of percentage points from the previous day. BU’s overall block count is creeping very close to overtaking Segwit once again.

How Signaling Works

Te order for Bitcoin miners to make their choice inbetween upgrading to Bitcoin Unlimited, Segwit, or any other version of Bitcoin, they voorwaarde edit their mining software to make a petite mark on the blocks that they mine. This petite flag is called a ‘versionbit’ and its only purpose is to expose to the world their choice of software client. Only Bitcoin miners can make thesis ‘votes’ and only when they have successfully mined a block.

When enough blocks are mined and signaled with the same versionbit, the fresh client software can be securely upgraded by those miners with little fear of the network splitting into two different Bitcoins. However, if the miners attempt to upgrade to a fresh, incompatible version of Bitcoin before enough miners are signaling the same version, Bitcoin could split into two or more different Bitcoins, like Ethereum’s blockchain split last summer. Such a budge could demolish investor confidence ter Bitcoin, a fate that most people want to avoid.

Why Now?

Bitmain CEO Jihan Wu, whose company runs Antpool, has not specifically exposed the reason why he has began signaling for BU. However, many people te the Bitcoin community have speculated that the stir may be te response to latest calls for a “User Activated Soft Fork” (UASF) which would theoretically transfer the power of signaling for the next version of Bitcoin away from Bitcoin miners into the palms of knot operators instead.

Wu disapproved of the concept and tweeted his response shortly after the idea wasgoed suggested. “UASF will split the blockchain and create Two or Trio kinds of Bitcoin if majority miners vote “no”. Exchanges should be careful”, Wu tweeted.

What do you think of Antpool signaling for BU? Let us know ter the comments section below.

Pictures courtesy of Shutterstock, Antpool, Coin.dance, and Nodecounter

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