Past few months in the Bitcoin industry has been all about block size. With numerous Bitcoin Improvement Proposals out there, the community was busy debating about which proposal to support and opt for. All the Bitcoin Improvement Proposals presented so far has received mixed response from the community, making it impossible to reach a consensus. However, in the recent days a solution to this block size issue seems to be taking shape in the form of Bitcoin Classic.
Bitcoin Classic is one such proposal that proposes an increase in the block size by 1 MB, effectively doubling it from the present 1 MB limit. Bitcoin Classic has already managed to gain a lot of traction after many Bitcoin Core developers, Mining pools and companies publicly declared their support to the proposal. Even though Bitcoin Classic has few heavyweights from the industry backing it, there are few concerns about its approach. Bitcoin Classic in its current form is developed to be integrated into the Bitcoin network after creating a hard fork. A lot of people from the Bitcoin community have expressed their apprehension about the creation of a hard fork as it might have some unforeseen consequence on the Bitcoin network.
For the very first time, Bitcoin Classic will be put to test by ANTPool. In a recent announcement, CEO of Bitmain Wu Jihan reported that ANTPool will soon be subjecting the new Bitcoin Classic to a stress test by adopting the beta test client. ANTPool is one of the largest Bitcoin mining pool, making it ideal for testing the proposal which will potentially be used by the whole Bitcoin network in the coming days.
Apart from ANTMiner, some of the others who have pledged their support to Bitcoin Classic includes BitFury, BW.COM, HAOBTC.com, KnCMiner, Genesis Mining, Avalon Miner and more. Coinbase, Blockchain.info, Xapo and itBit are few of the leading Bitcoin companies supporting it.
