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Crypto chaos: Bitcoin Unlimited goes offline

Added: (Tue Nov 14 2017)

Pressbox (Press Release) - The main feature of cryptocurrency is decentralization. The project Bitcoin Unlimited, which appeared in early 2017 was launched by the developers who offered the miners with full nodes vote for a certain block size. Previously, this problem was already off among the miners. Still, few experts understand all perspectives of this event, since the increase of the unit conducts to increase of requirements for all market participants. If the miners will not be able to maintain a full node, they will have to join the centralized service. According to market forecasts, it could affect all small and medium-sized services. In the spring of 2017, the number of employees nod Bitcoin Unlimited gradually began to decline, and if at first the process was quite smooth, just for a short period collapsed.

According to the Coin.Dance, the number of functioning nod BU was 290, and another a few hours earlier there were only 223. On the forums of the developers reported that a new maintenance release of the software.

According to General Director of English mining company World Mining, Philip Johnson, the scale of the market will be held up until the arena will be 3-4 major players who will control and hold in their hands the whole system. This development is advantageous especially for the ruling elite, so as to manipulate and exercise control over several companies is much easier than an army of miners around the world.

Submitted by:Alice Butler, Executive Director
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