Antpool Will Not Run SegWit Without Bitcoin Block Size Increase Hard Fork
Albeit there has bot some serious, public toneelstuk overheen scaling ter the Bitcoin community for overheen a year, it shows up that the community is mostly unified behind a single project going forward, which is based on the “Bitcoin Roundtable Overeenstemming.” There are still high-profile individuals, such spil former Bitcoin Core lead maintainer Gavin Andresen and longtime Bitcoin gifangel investor Roger Verafgelegen, who would like to see an increase ter the block size limit spil soon spil possible.
Support for Bitcoin Classic, which intends to deploy a block size limit increase to Two megabytes via a hard fork, presently sits around Five procent of the network hashrate, and representatives from the vast majority of Bitcoin miners and mining pools have no intention of violating the previous agreement to run only Bitcoin Core software for the foreseeable future.
Bitcoin Tv-programma recently chatted with Bitmain CEO Jihan Wu about his current thoughts on Segregated Witness (SegWit), hard forks and the latest Beijing meeting inbetween BIP 109 volgers and the Chinese Bitcoin mining industry. Bitmain runs one of the top two Bitcoin mining pools te the world, Antpool. The pool accounted for toughly 22 procent of all mined blocks overheen the four days prior to publication.
Comments on the Beijing Meeting
Bitcoin Tv-programma previously reported on a somewhat secretive meeting te Beijing that took place near the end of March. BTCC COO Samson Mow referred to the meeting spil a “train wreck,” which is a description that some, such spil Roger Veraf, found to be inaccurate.
When asked if he would refer to the meeting spil a train wreck, Wu responded, “It depends how you define ‘train wreck.’ If it describes the status that no agreement [wasgoed] reached, it is a ‘yes.’”
Wu went on to clarify that an agreement, like the one made ter Hong Kong, wasgoed not the purpose of the Beijing meeting (te his view). He explained:
“We discussed lots of potential solutions around the scaling issues and debated possible problems with those ideas. Spil there is no intention to corner anyone into any promise, everyone feels free to discuss all possible ways of future deeds. The meeting let everyone know about the position of each other very well.”
When asked if he thinks the Bitcoin Core roadmap is sufficient, Wu responded, “If (a soon and big enough) block size limit increase does [become] a part of the scaling roadmap, and the Lightning Network is ready soon enough, I think it will be sufficient for at least a few years from now.”
Antpool Will Not Run Bitcoin Classic, May Delay SegWit
During his conversation with Bitcoin Tijdschrift, Wu confirmed that Antpool is testing Segregated Witness (SegWit) right now, and the mining pool will not be running Bitcoin Classic te a production environment for the foreseeable future. Wu added that Bitmain is honoring the Hong Kong agreement, “even tho’ lots of people think that SegWit is not ‘released’ spil there is only a pull request.”
It should be clarified that there wasgoed no explicit promise to release Segregated Witness by April te the Hong Kong agreement. Having said that, Wu waterput the agreement te the following setting:
“The setting is that SegWit will be released ter a very timely manner to address the block size scarcity problems te the near future. The China Bitcoin community side, including exchanges, wallets and miners, [are] worried very much about the short-term problem. [The] SegWit release date wasgoed repetitively stated spil ter April. So delay of SegWit is a problem, tho’ most of the parties will understand this problem and proceed to act ter good faith.”
Wu also collective his views on whether the current state of Segregated Witness can be viewed spil a true release:
“By ‘release,’ it should be always a functioning, well-tested binary software that can let people to run securely ter good faith. A code which is not merged, not tested, not agreed by their decision community is not a ‘release.’ There are several ‘release[s]’ ter the agreement, and every ‘release’ has the same implication or meaning.”
Before running Segregated Witness code te a production environment, Wu would like to see the hard fork code discussed ter the Hong Kong agreement implemented ter a release of Bitcoin Core. Wu explained:
“We are waiting for the July hard fork code promised te the February Hong Kong meeting. Wij and other mining pools will want to talk to Core again after the hard fork code is public before wij take next steps.”
When asked specifically whether Antpool would run SegWit code without a hard fork increase te the block size also included ter a release of Bitcoin Core, Wu responded:
“No. It is acceptable that the hard fork code is not activated, but it needs to be included ter a ‘release’ of Bitcoin Core. I have made it clear about the definition of ‘release,’ which is not ‘public.’”
Some of the Bitcoin Core contributors who signed the Hong Kong agreement recently met te Fresh York to discuss what should be ter the proposed hard fork. The details of the proposed hard fork are expected to be known soon, and a thread on the Bitcoin development mailing list indicates a way to block the ASICBoost proposal has bot discussed.
Te the current environment, developers expect that an increase to the block size limit via a hard fork is unlikely to be merged into Bitcoin Core. Having said that, Bitcoin Core contributor and spokesperson Eric Lombrozo told Bitcoin Tijdschrift that an increase via a soft fork is a possibility. Increases via a soft fork, such spil extension blocks, have bot discussed ter the past.
It should be noted that Segregated Witness is also, effectively, an increase ter the block size limit to harshly 1.7 megabytes. Schnorr signatures is another optimization that would permit more transactions to gezond te each block.
Ter Lombrozo’s view, hard forks should not be deployed under political pressure while animosity still exists inbetween different segments of the community.
Ter the setting of Antpool’s current views on scaling, the lack of a hard fork deployment te Bitcoin Core could delay the activation of a Segregated Witness soft fork.
Wu: A Hard Fork is Still Needed
While Bitmain is sticking with the Hong Kong agreement, Jihan Wu is worried whether Bitcoin Core will implement an increase to the block size limit. He noted the possibility of a “disaster” if the block size limit is not enlargened that would be caused by transaction delays and toverfee increases, but he understands that the Bitcoin Core contributors who attended the Hong Kong meeting cannot speak for those who were not there.
Wu noted that block space has a flawlessly inelastic supply, which he noted is an economic term that is not often applied to the real world. He added, “I indeed don’t want the entire community to practice serious problems spil a consequence of making [the] wrong choice.”
Wu did mention that Blockstream Voorzitter Adam Back’s latest presentation at Paralelni Polis wasgoed a positive sign. He stated:
“The [latest] presentation by Adam Back for Slush displayed that they have bot taking the block size increase problem into serious consideration. It is a positive sign. Wij hope that the Core community members, especially those who have veto rights ter their decision-making process, can realize the [importance of] increases [te] the main block size.”
Te terms of when a block size limit increase is needed, Wu added:
“We need to do it quick. The block size increase is, after all, a brief term solution for emergency problems. Delaying to increase the block size will bring lots of problems, which mostly become the ache of Bitcoin enterprises such spil exchanges and wallets.”
To illustrate his concern regarding the need for more block space, Wu collective a question asked by HaoBTC CEO Wu Snelheid during the Hong Kong meeting te February. Wu paraphrased:
“Lots of on-chain transactions speelgoedpop up now. The request for Bitcoin transactions is higher and higher. What if SegWit and the Lighting Network cannot be ready and adaptive to the request soon enough? Will wij just ask the users to wait until wij have finished the SegWit soft fork and Lightning Network?”
Wu added that Gang’s question wasgoed not answered.
Bitcoin Tv-programma reached out to Bitcoin Core contributor Peter Todd to get an reaction to Gang’s question:
“Unfortunately Bitcoin simply doesn’t scale well, so wij don’t have any effortless way to react to enhanced request other than the toverfee market, block size can be bumped, but that increases centralization. The toverfee market does mean that the lowest valued transactions get priced out of the market, but now that toverfee estimation is widely supported, and wallets are beginning to add support for replace-by-fee toverfee bumping, wij do have good mechanisms for users to outbid those lowest valued transactions and keep using Bitcoin. This isn’t a superb reaction I agree, but there’s not much more wij can do without fundamental improvements to Bitcoin’s scalability.”
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