Farzeen Tariq

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As Bitcoin’s (BTC) popularity continues to grow, its network built on 1MB blocks struggles to keep up with the growing number of transactions. Two groups within the Bitcoin community, the “Big Blockers” and “Decentralists,” disagree on how to address the blocksize issue. Big Blockers are focused on realizing Bitcoin’s potential to serve as a cash alternative and compete with traditional payment systems; but Decentralists fear that increasing the blocksize will compromise Bitcoin’s security by placing…
Bitcoin’s Blocksize Debate: Behind the scenes of Bitcoin’s (BTC) success, a debate continues about whether to expand the leading cryptocurrency’s blocksize from 1MB to 2MB. On one side, the “Big Blockers” want to increase Bitcoin’s blocksize, allowing the cryptocurrency to realize its potential as a cash alternative and compete with traditional payment systems. On the other side, the “Decentralists” worry that increasing Bitcoin’s blocksize will create barriers to entry for miners, compromising Bitcoin’s security and…