BitFury Comes Out In Support of Bitcoin Classic

While Mike Hearn’s recent essay has sent the Bitcoin community into a tizzy, BitFury, a leading fully integrated Bitcoin blockchain infrastructure provider and transaction processing company, has announced its support for Bitcoin Classic that involves 2MB block size increase.

“@BitFuryGroup - the largest private miner and security provider is ready to move forward and support 2MB increase with @Bitcoin Classic”, Valery Vavilov, Co-founder and CEO of BitFury, tweeted on Friday.

NewsBTC reported that BitFury controls nearly 13% of the mining share and has contributed the third largest mining pool support, following AntPool and F2Pool. More than 72% of mining pools are supporting Bitcoin Classic at present. KnCMiner, one of the most prominent names in the bitcoin mining business has also announced its support for Bitcoin Classic.

“We are hard forking bitcoin to a 2 MB blocksize limit”, Bitcoin Classic website reads. “We call our code repository Bitcoin Classic. It starts as a one-feature patch to bitcoin-core that increases the blocksize limit to 2 MB. We will have ports for master and 0.11.2, so that miners and businesses can upgrade to 2 MB blocks from any recent bitcoin software version they run”.

Bitcoin Classic has received support from leading Bitcoin companies, developers, investors, and miners such as Coinbase, Bitstamp, Circle, Jeff Garzik, Roger Ver, and Gavin Andresen.

“I’m doing what I can to speed up this natural process for Bitcoin. I’ll be contributing my advice and experience (and code review and code) to Bitcoin Classic and Bitcoin Unlimited and Bitcoin Core and maybe other open source projects that come along”, Andresen wrote in an online post. “I hope that they are all successful, and figure out where in the Bitcoin ecosystem they should specialize– maybe Bitcoin Classic will be the preferred distribution for miners and Bitcoin Unlimited will focus on features for end-users. Maybe Bitcoin Core will decide to focus on longer-term improvements at the core protocol level.”