Bitcoin Unlimited: Difference between revisions

Bitcoin Unlimited
Developer(s)	Andrew Stone
Initial release	December 2015
Stable release	1.3.0.1 / 5 May 2018; 6 years ago
Repository	github.com/BitcoinUnlimited/BitcoinUnlimited
Written in	C++
Platform	Windows, Linux,; Mac OS X, ARM
Type	Cryptocurrencies
License	MIT License
Website	www.bitcoinunlimited.info

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Revision as of 19:04, 12 June 2019

Bitcoin Unlimited (BU) is a full node implementation for the bitcoin and Bitcoin Cash networks. Compared to the Bitcoin Core client hard-coding the block size limit to one megabyte, from which it is forked, Bitcoin Unlimited allows users to signal which block size limit they prefer, find the limit having a majority consensus and automatically track the largest proof-of-work, regardless of block size. However, if a block greater than one megabyte in size is accepted by Bitcoin Unlimited and rejected by nodes with a block size limit, a fork of the network will occur, resulting in two separate blockchains with Bitcoin Unlimited nodes following the chain with the largest proof-of-work.^{[citation needed]}

The release of Bitcoin Unlimited follows the release of Bitcoin XT and Bitcoin Classic, alternative proposals which aimed to increase bitcoin's transaction capacity of around 2.5-3 transactions per second by increasing the hard-coded block size limit.^[1]

Scalability

Bitcoin Unlimited is an attempt to upgrade Bitcoin Core into a client that processes bitcoin transactions into blocks with a potential maximum size greater than the Core's hard-coded limit of one megabyte. The one megabyte block size limit was added in 2010 by Satoshi Nakamoto as a temporary anti-DoS measure. This limited the maximum network capacity to about three transactions per second.^[2] Per the advocates of the change, a block size increase is needed in order to avoid a workflow bottleneck due to the number of transactions made as bitcoin adoption increases.

With Bitcoin Unlimited, miners are independently able to configure the size of the blocks they will validate.^[3]

Miners using Bitcoin Unlimited continue to process regular-sized blocks but as soon as a block larger than one megabyte is mined, they will follow the chain containing the most work.^[4]

Per the Bitcoin Unlimited website, the scalability solution will be found at a focal point.^[1]

Support

Bitcoin Unlimited follows the release of Bitcoin XT and Bitcoin Classic, alternative proposals on how to increase bitcoin's transaction capacity.^[5] Mining pools including Antpool.^[6]

Opposition

Developers of Bitcoin Core have been reluctant to increase the block size limit. Core developer Luke-Jr even claimed that the current limit is too large and that all legitimate uses of bitcoin "amount to approximately 750k/block average."^{[citation needed]} BU nodes were attacked after developers brought a bug to light on 14 March 2017. The numbers of nodes hosting Unlimited fell to about 370 from 780 following the attacks, the lowest level since October, and returned to about 780 within 24 hours according to website coin.dance which tracks network data.^[7]

References

^ ^a ^b Hayes, Adam (18 October 2016). "The Three Major Bitcoin Protocols Explained". Investopedia. Retrieved 18 January 2017.
^ Mike Orcutt (19 May 2015). "Leaderless Bitcoin Struggles to Make Its Most Crucial Decision". MIT Technology Review. Retrieved 15 November 2016.
^ Jordan Pearson (14 October 2016). "'Bitcoin Unlimited' Hopes to Save Bitcoin from Itself". Motherboard. Vice Media LLC. Retrieved 17 January 2017.
^ Bajpai, Prableen (26 October 2016). "What Is Bitcoin Unlimited?". Investopedia, LLC. Retrieved 8 November 2016.
^ Vigna, Paul (17 January 2016). "Is Bitcoin Breaking Up?". The Wall Street Journal. Retrieved 8 November 2016.
^ Nakamura, Yuji; Chen, Lulu Yilun (13 March 2017). "Bitcoin Miners Signal Revolt in Push to Fix Sluggish Blockchain". BloombergTechnology. Retrieved 13 March 2017.
^ Nakamura, Yuji (15 March 2017). "Divisive 'Bitcoin Unlimited' Solution Crashes After Bug Discovered". Bloomberg. Retrieved 15 March 2017.

External links

[threeproto-1] Hayes, Adam (18 October 2016). "The Three Major Bitcoin Protocols Explained". Investopedia. Retrieved 18 January 2017.

[leadbit-2] Mike Orcutt (19 May 2015). "Leaderless Bitcoin Struggles to Make Its Most Crucial Decision". MIT Technology Review. Retrieved 15 November 2016.

[hopesto-3] Jordan Pearson (14 October 2016). "'Bitcoin Unlimited' Hopes to Save Bitcoin from Itself". Motherboard. Vice Media LLC. Retrieved 17 January 2017.

[IP201610-4] Bajpai, Prableen (26 October 2016). "What Is Bitcoin Unlimited?". Investopedia, LLC. Retrieved 8 November 2016.

[5] Vigna, Paul (17 January 2016). "Is Bitcoin Breaking Up?". The Wall Street Journal. Retrieved 8 November 2016.

[6] Nakamura, Yuji; Chen, Lulu Yilun (13 March 2017). "Bitcoin Miners Signal Revolt in Push to Fix Sluggish Blockchain". BloombergTechnology. Retrieved 13 March 2017.

[7] Nakamura, Yuji (15 March 2017). "Divisive 'Bitcoin Unlimited' Solution Crashes After Bug Discovered". Bloomberg. Retrieved 15 March 2017.

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@@ Line 9: / Line 9: @@
 | collapsible = <!-- Any text here will collapse the screenshot -->
 | author =
+| developer = Andrew Stone
-| developer = Andrew Stone<br/>Peter Tschipper<br/>Andrea Suisani<ref>{{Cite web|url=https://www.bitcoinunlimited.info/faq/who-is-bu|title=Who are the developers of Bitcoin Unlimited?|last=|first=|date=|website=Bitcoin Unlimited|archive-url=|archive-date=|dead-url=|access-date=2019-06-12}}</ref>
 | released = December 2015
 | ver layout = <!-- simple (default) or stacked -->
-| latest release version = 1.6.0.0
+| latest release version = 1.3.0.1
+| latest release date = {{Start date and age|2018|05|05|df=yes}}
-| latest release date = {{Start date and age|2019|04|23|df=yes}}<ref name="releases">{{Cite web|url=https://www.bitcoinunlimited.info/download|title=Download Bitcoin Unlimited|last=|first=|date=|website=Bitcoin Unlimited|archive-url=|archive-date=|dead-url=|access-date=2019-06-12}}</ref>
 | latest preview version =
 | latest preview date = <!-- {{Start date and age|YYYY|MM|DD|df=yes/no}} -->
+| status = active
 | programming language = [[C++]]
 | operating system =
@@ Line 35: / Line 36: @@
 The release of Bitcoin Unlimited follows the release of [[Bitcoin XT]] and [[Bitcoin Classic]], alternative proposals which aimed to increase bitcoin's transaction capacity of around 2.5-3 transactions per second by increasing the hard-coded block size limit.<ref name="threeproto">{{cite news|last1=Hayes|first1=Adam|title=The Three Major Bitcoin Protocols Explained|url=http://www.investopedia.com/news/three-major-bitcoin-protocols-explained/|accessdate=18 January 2017|work=Investopedia|date=18 October 2016}}</ref>
-As of version 1.1.0.0, Bitcoin Unlimited releases are compatible with [[Bitcoin Cash]]<ref name="releases"/>, a cryptocurrency that split from [[bitcoin]] and allows larger blocks.
 ==Scalability==
@@ Line 51: / Line 50: @@
 Bitcoin Unlimited follows the release of [[Bitcoin XT]] and [[Bitcoin Classic]], alternative proposals on how to increase bitcoin's transaction capacity.<ref>{{cite news|last1=Vigna|first1=Paul|title=Is Bitcoin Breaking Up?|url=https://www.wsj.com/articles/is-bitcoin-breaking-up-1453044493|accessdate=8 November 2016|work=The Wall Street Journal|date=17 January 2016}}</ref>  Mining pools including Antpool.<ref>{{cite news|last1=Nakamura|first1=Yuji|last2=Chen|first2=Lulu Yilun|title=Bitcoin Miners Signal Revolt in Push to Fix Sluggish Blockchain|url=https://www.bloomberg.com/news/articles/2017-03-13/bitcoin-miners-signal-revolt-in-push-to-fix-sluggish-blockchain|accessdate=13 March 2017|work=BloombergTechnology|date=13 March 2017}}</ref>
 ===Opposition===
-Developers of Bitcoin Core have been reluctant to increase the block size limit. Core developer Luke-Jr even claimed that the current limit is too large and that all legitimate uses of bitcoin "amount to approximately 750k/block average."<ref>{{Cite web|url=https://www.reddit.com/r/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/dficjhj|title=luke-jr - Blocks are too large right now|last=|first=|date=2017-03-28|website=Reddit|language=en|archive-url=https://web.archive.org/web/20170328152300/https://www.reddit.com/r/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/dficjhj/|archive-date=2017-03-28|dead-url=|access-date=2019-06-12}}</ref> BU nodes were attacked after developers brought a bug to light on 14 March 2017. The numbers of nodes hosting Unlimited fell to about 370 from 780 following the attacks, the lowest level since October, and returned to about 780 within 24 hours according to website coin.dance which tracks network data.<ref>{{cite news|last1=Nakamura|first1=Yuji|title=Divisive ‘Bitcoin Unlimited’ Solution Crashes After Bug Discovered|url=https://www.bloomberg.com/news/articles/2017-03-15/divisive-bitcoin-unlimited-solution-crashes-after-bug-exploit|accessdate=15  March 2017|publisher=[[Bloomberg L.P.|Bloomberg]]|date=15 March 2017}}</ref>
+Developers of Bitcoin Core have been reluctant to increase the block size limit. Core developer Luke-Jr even claimed that the current limit is too large and that all legitimate uses of bitcoin "amount to approximately 750k/block average."{{cn|date=May 2019}} BU nodes were attacked after developers brought a bug to light on 14 March 2017. The numbers of nodes hosting Unlimited fell to about 370 from 780 following the attacks, the lowest level since October, and returned to about 780 within 24 hours according to website coin.dance which tracks network data.<ref>{{cite news|last1=Nakamura|first1=Yuji|title=Divisive ‘Bitcoin Unlimited’ Solution Crashes After Bug Discovered|url=https://www.bloomberg.com/news/articles/2017-03-15/divisive-bitcoin-unlimited-solution-crashes-after-bug-exploit|accessdate=15  March 2017|publisher=[[Bloomberg L.P.|Bloomberg]]|date=15 March 2017}}</ref>
 == See also ==