Bitcoin Unlimited
Bitcoin Unlimited is a full node bitcoin client that allows miners to decide on block sizes, rather than having a limit imposed on them. It aims to scale bitcoin by letting the market determine the block size.
bitcoin
cryptocurrency
mining
blocksize
Bitcoin Unlimited: Full Node Bitcoin Client
Full node Bitcoin client allowing miners to decide on block sizes, aiming to scale Bitcoin by market-determined block sizes
What is Bitcoin Unlimited?
Bitcoin Unlimited is a full node bitcoin implementation that supports dynamic block sizes. Unlike the original Bitcoin Core client which has a hardcoded 1 MB block size limit, Bitcoin Unlimited allows miners to vote on increasing the block size as needed for scaling purposes.
Some key features of Bitcoin Unlimited include:
- Miner-configurable block sizes - Miners can configure their nodes to accept blocks of various sizes. If the majority of hash power signals acceptance of bigger blocks, the block size can increase.
- Emergent Consensus - This allows block size settings to emerge via miner signaling rather than being centrally planned by developers.
- Xthin blocks - This technology enables more efficient block propagation across the network by only sharing transaction hashes at first.
The goal of Bitcoin Unlimited is largely in opposition to Bitcoin's current 1 MB restriction, viewing limiting the block size as artificial throttling of transaction capacity. By removing restrictions on block sizes and instead letting miners vote, Bitcoin Unlimited wants to scale bitcoin by following free market principles.
Bitcoin Unlimited Features
Features
- Allows miners to vote on block size
- Removes hardcoded block size limit
- Aims to scale Bitcoin transaction capacity
- Xthin blocks for efficient block propagation
Pricing
- Open Source
Pros
Could allow more transactions per block
Miners can choose block size
Aims to lower transaction fees
Cons
Centralization risks from big blocks
Increased orphan rates
Network nodes need more resources
Official Links
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