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What is Bitcoin Unlimited? (For new people!)
What is Bitcoin Unlimited? (For new people!)
Published: 2017/03/09
Channel: Cryptocurrency Investments
SegWit vs. Bitcoin Unlimited: Arguments and Clarity (The Cryptoverse #207)
SegWit vs. Bitcoin Unlimited: Arguments and Clarity (The Cryptoverse #207)
Published: 2017/02/13
Channel: The Cryptoverse
HACK UNLIMITED BITCOIN ON ANDROID 2017 WORKING 100000%
HACK UNLIMITED BITCOIN ON ANDROID 2017 WORKING 100000%
Published: 2017/02/24
Channel: Willie Kidd
All apps earn Bitcoin But 2 Best Bitcoin unlimited earning app 2018/how to get free bitcoin apps
All apps earn Bitcoin But 2 Best Bitcoin unlimited earning app 2018/how to get free bitcoin apps
Published: 2018/01/19
Channel: Chand Tutor
G. Andrew Stone & Andrew Clifford: Bitcoin Unlimited (Episode 166)
G. Andrew Stone & Andrew Clifford: Bitcoin Unlimited (Episode 166)
Published: 2017/01/16
Channel: Epicenter
Explicando Bitcoin Segwit y Bitcoin Unlimited - BTC | BTU
Explicando Bitcoin Segwit y Bitcoin Unlimited - BTC | BTU
Published: 2017/06/29
Channel: DineroConOpciones.com
Breaking News: Bitcoin Unlimited has Been HACKED
Breaking News: Bitcoin Unlimited has Been HACKED
Published: 2017/03/14
Channel: Crypto Tips
Bitcoin Unlimited thoughts. Altcoins are great for micro-donations. What is up with Coinbase?
Bitcoin Unlimited thoughts. Altcoins are great for micro-donations. What is up with Coinbase?
Published: 2017/02/26
Channel: BitcoinMeister
Hack BitCoin Unlimited On Android No Root
Hack BitCoin Unlimited On Android No Root
Published: 2017/10/18
Channel: Jutawan Suspended
What is Bitcoin Unlimited?
What is Bitcoin Unlimited?
Published: 2017/03/22
Channel: Bit Media
Bitcoin Core VS Bitcoin Unlimited, The Battle Rages On! – Roger Ver Interview
Bitcoin Core VS Bitcoin Unlimited, The Battle Rages On! – Roger Ver Interview
Published: 2017/04/14
Channel: Crush The Street
SEG-WIT or BITCOIN UNLIMITED  FOR SALE: CHEAP BITCOIN
SEG-WIT or BITCOIN UNLIMITED FOR SALE: CHEAP BITCOIN
Published: 2017/03/19
Channel: RyanHustle B
Ep. # 301- Bitcoin Unlimited Not Dangerous - Two Coins UNLIKELY After Hard-Fork / Lost Bitcoin
Ep. # 301- Bitcoin Unlimited Not Dangerous - Two Coins UNLIKELY After Hard-Fork / Lost Bitcoin
Published: 2017/03/09
Channel: Crypt0
How to Get 1,000s of Free Bitcoin! Earn Unlimited Bitcoin With BitCoinGet
How to Get 1,000s of Free Bitcoin! Earn Unlimited Bitcoin With BitCoinGet
Published: 2017/07/20
Channel: Michael Johnson
REALIST NEWS - Bitcoin Core or Bitcoin Unlimited? It doesn
REALIST NEWS - Bitcoin Core or Bitcoin Unlimited? It doesn't really matter actually
Published: 2017/03/23
Channel: jsnip4
Earn Unlimited Bitcoin Without Investment - Get Free Bitcoins [0.5 - 0.50 BTC /Month]
Earn Unlimited Bitcoin Without Investment - Get Free Bitcoins [0.5 - 0.50 BTC /Month]
Published: 2017/03/12
Channel: Make Money Guru ,Bitcoin & Cryptocurrency
Bitcoin Unlimited - Presentations and Discussions
Bitcoin Unlimited - Presentations and Discussions
Published: 2016/12/08
Channel: Bitcoin Association of Hong Kong
How to earn free bitcoin unlimited 2017
How to earn free bitcoin unlimited 2017
Published: 2017/10/21
Channel: EARNING ZONE
Unlimited Bitcoin trick by Robot cash
Unlimited Bitcoin trick by Robot cash
Published: 2017/07/05
Channel: Andro knowledge
Bitcoin Cash, Bitcoin ABC, Bitcoin Unlimited, viaBTC, August 1 - Opinion/Explanation/Interpretation
Bitcoin Cash, Bitcoin ABC, Bitcoin Unlimited, viaBTC, August 1 - Opinion/Explanation/Interpretation
Published: 2017/07/24
Channel: Crypto Clay
Segwit vs Bitcoin Unlimited? Wir klären auf | Altcoin-Explosion | BTC-ECHO Wochenrückblick KW 11
Segwit vs Bitcoin Unlimited? Wir klären auf | Altcoin-Explosion | BTC-ECHO Wochenrückblick KW 11
Published: 2017/03/19
Channel: BTC-ECHO | Bitcoin News & Tutorials
Bitcoin Core Vs Unlimited - Where Do I Stand?
Bitcoin Core Vs Unlimited - Where Do I Stand?
Published: 2017/03/27
Channel: BTC Sessions
Peter Rizun, Bitcoin Unlimited, at Coinbase 16 March 2017
Peter Rizun, Bitcoin Unlimited, at Coinbase 16 March 2017
Published: 2017/03/21
Channel: Speakers at Coinbase
Bitcoin Core vs Bitcoin Unlimited #Cryptocositas
Bitcoin Core vs Bitcoin Unlimited #Cryptocositas
Published: 2017/03/24
Channel: Platzi
WHOOPSY! Bitcoin Unlimited Software Causes Miner To Lose Over $12,000 (The Cryptoverse #198)
WHOOPSY! Bitcoin Unlimited Software Causes Miner To Lose Over $12,000 (The Cryptoverse #198)
Published: 2017/01/31
Channel: The Cryptoverse
Earn BITCOIN Unlimited Playing Game
Earn BITCOIN Unlimited Playing Game
Published: 2018/03/13
Channel: ONLINE JOBS SRI LANKA
Bitcoin
Bitcoin's Future: Bitcoin Unlimited Vs Segwit
Published: 2017/05/31
Channel: William Bentley Blackburn
SegWit 2MB | Что такое Сигвит | Bitcoin Unlimited | Хард форк и софт форк | Простое объяснение
SegWit 2MB | Что такое Сигвит | Bitcoin Unlimited | Хард форк и софт форк | Простое объяснение
Published: 2017/07/17
Channel: Tarpan Digest
Bitcoin Unlimited Lead Developer Andrew Stone on Bitcoin Cash
Bitcoin Unlimited Lead Developer Andrew Stone on Bitcoin Cash's Progress Since 2017
Published: 2018/03/30
Channel: Bitsonline
Difference Between Bitcoin Core vs Bitcoin Unlimited in Hindi/Urdu
Difference Between Bitcoin Core vs Bitcoin Unlimited in Hindi/Urdu
Published: 2017/03/24
Channel: Global Rashid
Bitcoin Core VS Bitcoin Unlimited, The Battle Rages On! – Roger Ver Interview - The Best Documentary
Bitcoin Core VS Bitcoin Unlimited, The Battle Rages On! – Roger Ver Interview - The Best Documentary
Published: 2017/12/06
Channel: Bobbie Marquardt
Johnny Dilley (of Blockstream) vs Roger Ver - Bitcoin Scaling Debate (SegWit vs Bitcoin Unlimited)
Johnny Dilley (of Blockstream) vs Roger Ver - Bitcoin Scaling Debate (SegWit vs Bitcoin Unlimited)
Published: 2017/02/27
Channel: Tone Vays
Earn Unlimited Bitcoin Without Investment - Auto Mining - Live Withdrawal
Earn Unlimited Bitcoin Without Investment - Auto Mining - Live Withdrawal
Published: 2017/04/07
Channel: Tips Hindi
Free Earn Bitcoin - Unlimited BTC - Instant Payout and No Investment - Urdu/hindi
Free Earn Bitcoin - Unlimited BTC - Instant Payout and No Investment - Urdu/hindi
Published: 2017/09/11
Channel: Arshad Khan
Coinbase Declines to Sign Bitcoin Unlimited Rejection Letter (The Cryptoverse #234)
Coinbase Declines to Sign Bitcoin Unlimited Rejection Letter (The Cryptoverse #234)
Published: 2017/03/23
Channel: The Cryptoverse
8. Конференция в Йоханнесбурге. Муратов о форке Bitcoin и Китайском Bitcoin Unlimited
8. Конференция в Йоханнесбурге. Муратов о форке Bitcoin и Китайском Bitcoin Unlimited
Published: 2017/03/18
Channel: CWT Official Channel
How To Mine / Earn Unlimited Bitcoin Free || 100% Legal Way [ Bangla/Bangali ] #3
How To Mine / Earn Unlimited Bitcoin Free || 100% Legal Way [ Bangla/Bangali ] #3
Published: 2017/08/18
Channel: Mr. MONIR
Chain Split Tokens, Closed Source Bitcoin Unlimited, & More  - YMB Podcast E167
Chain Split Tokens, Closed Source Bitcoin Unlimited, & More - YMB Podcast E167
Published: 2017/03/24
Channel: You, Me, and BTC
Bitcoin Unlimited code bug! Tone Vays was right! Altcoin bubble. Amanda Johnson
Bitcoin Unlimited code bug! Tone Vays was right! Altcoin bubble. Amanda Johnson
Published: 2017/03/15
Channel: BitcoinMeister
1. Конференция в Йоханнесбурге. Муратов о форке Bitcoin и Китайском Bitcoin Unlimited
1. Конференция в Йоханнесбурге. Муратов о форке Bitcoin и Китайском Bitcoin Unlimited
Published: 2017/03/18
Channel: CWT Official Channel
UnBitCoin.Xyz Claim 200 Satoshi Unlimited Time Payment Proof Direct BitCoin    Wallet
UnBitCoin.Xyz Claim 200 Satoshi Unlimited Time Payment Proof Direct BitCoin Wallet
Published: 2017/10/09
Channel: M Fast Technical Hindi
FAUCET HUB - CPU MINING- Free Bitcoins Unlimited 2017
FAUCET HUB - CPU MINING- Free Bitcoins Unlimited 2017
Published: 2017/09/30
Channel: yours tech-8080
Get Unlimited Bitcoin With Bot Satoshi Software 2018 Generator Free
Get Unlimited Bitcoin With Bot Satoshi Software 2018 Generator Free
Published: 2018/01/04
Channel: Youtuber Anonymous
Bitcoin About To Fork? 🤔 Bitcoin Core vs Bitcoin Unlimited vs ZCash
Bitcoin About To Fork? 🤔 Bitcoin Core vs Bitcoin Unlimited vs ZCash
Published: 2017/04/02
Channel: Marc De Mesel
SegWit vs Bitcoin Unlimited - Clif High y el Web Bot
SegWit vs Bitcoin Unlimited - Clif High y el Web Bot
Published: 2017/03/25
Channel: Black Swan Finances en Español
Hardfork bitcoin unlimited y bitcoin core, el origen del problema la comunidad dividida
Hardfork bitcoin unlimited y bitcoin core, el origen del problema la comunidad dividida
Published: 2017/03/18
Channel: Bitcoin Criptomonedas
Thomas Voegtlin: Blocksize, Bitcoin Unlimited, ASICBoost and Activating SegWit (Episode 179)
Thomas Voegtlin: Blocksize, Bitcoin Unlimited, ASICBoost and Activating SegWit (Episode 179)
Published: 2017/04/18
Channel: Epicenter
Bitcoin Core - Bitcoin Unlimited Tartışması (Yeni Videolar Gelecek)
Bitcoin Core - Bitcoin Unlimited Tartışması (Yeni Videolar Gelecek)
Published: 2017/05/19
Channel: baybil
What is bitcoin unlimited HINDI
What is bitcoin unlimited HINDI
Published: 2017/03/23
Channel: Bhanu Shakya
Bitcoin Unlimited Gaining On SegWit, Could It Overtake? Could We Do Both? (The Cryptoverse #191)
Bitcoin Unlimited Gaining On SegWit, Could It Overtake? Could We Do Both? (The Cryptoverse #191)
Published: 2017/01/20
Channel: The Cryptoverse
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WIKIPEDIA ARTICLE

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Bitcoin Unlimited
Bitcoin Unlimited logo.png
Developer(s) Andrew Stone
Initial release December 2015
Stable release
1.3.0.1 / 5 May 2018; 2 months ago (2018-05-05)
Repository github.com/BitcoinUnlimited/BitcoinUnlimited
Written in C++
Platform Windows, Linux,
Mac OS X, ARM
Type Cryptocurrencies
License MIT License
Website www.bitcoinunlimited.info

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.[1] 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.[2]

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.[3] Bitcoin Unlimited developers maintain an edition of their software that works on the Bitcoin Cash network, known as "BU Cash".[4]

Scalability[edit]

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.[1] 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.[5] 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. BUIP001[6] documented the proposal and was drafted by lead developer Andrew Stone.[7]

With Bitcoin Unlimited, miners are independently able to configure the size of the blocks they will validate.[8] Maximum Generation Size, also referred to as MG is a new parameter which by default is set to one megabyte.[7] The software allows the users to adjust it and select the size of blocks they produce. Excessive Block Size, or EB, parameter allows nodes to choose the size of the block they accept. By default this is set at 16 megabytes.[7] The third new parameter allows a user to select the Excessive Acceptance Depth, or AD. This implements a consensus strategy by retroactively accepting larger blocks if a majority of other miners have done so.[7]

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.[9]

Per the Bitcoin Unlimited website, the scalability solution will be found at a focal point.[10][3] That is, the size limit of a block is expected to naturally emerge from the cumulative effect of thousands of node operators and miners expressing their preferences.[11]

Per proponents, Bitcoin Unlimited continues the transaction capacity increase method bitcoin used for much of its existence. Business analyst and cryptoanalyst Eli Afram claimed that 'The "1000000" (1MB), number that Satoshi input into the code follows no real decision point, but rather, a simple round numbered limit, that was never supposed to be reached. Except that we did reach that number, and as a result, many users are now paying well over 1USD per transaction.'[12] Satoshi Nakamoto said of the blockchain size, "The eventual solution will be to not care how big it gets."

Support[edit]

Bitcoin Unlimited follows the release of Bitcoin XT and Bitcoin Classic, alternative proposals on how to increase bitcoin's transaction capacity.[13] Bitcoin Unlimited is actively supported by Roger Ver. Bitcoin Unlimited development is primarily funded by donations.[14] Mining pools including Antpool,[15] bitcoin.com,[10] BTC.TOP, GBMiners and ViaBTC use BU.[7] As of March 2017 around 11% of the nodes run BU.[16]

Opposition[edit]

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."[12] Per David A Johnston, the emerging consensus mechanism could lead to a network split.[2][17] Furthermore, critics are worried about the small amount of BU developers and a lack of peer review of new code. A bug in BU caused Bitcoin.com to mine an invalid block on 2 February 2017.[18] 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.[19] On 24 April 70% of all Bitcoin Unlimited nodes crashed due to memory leaks.[20][21] On 8 May roughly 70% of all Bitcoin Unlimited nodes went offline again. The exact reason is unknown but BU developer Andrea Suisani suggested that it was related to the Xthin protocol, a feature of BU.[22][23]

Governance[edit]

Bitcoin Unlimited seeks to democratize the software development process.[1] The protocol used by Bitcoin Unlimited is administered by a formal process described in the Articles of Federation.[24] Elected positions exist for a developer in charge of software maintenance, a president in charge of high level management and an elected secretary to deal with communication and administrative issues.[24] The software's Developer, President and Secretary is elected every two years.[24] Currently (as of Mar 2018), the president of Bitcoin Unlimited is Andrew Clifford, Peter Rizun is the Secretary, and Andrew Stone is the Developer.[25]

Bitcoin Unlimited has a large number members and developers including Peter Tschipper, Andrea Suisani, and Amaury Séchet.[25]

Notable History[edit]

  • 18 Nov 2015 Bitcoin Unlimited formed
  • 19 Dec 2015 First Bitcoin Unlimited software release, containing the Emergent Consensus block size determination algorithm (BUIP001).
  • 30 May 2016 Xthin block propagation technology released. Xthin block propagation minimizes the size of transmitted blocks by omitting transactions that the destination node already contains.[26]
  • 18 Feb 2017 Bitcoin Unlimited Emergent Consensus votes exceeds Segregated Witness.[27]
  • 21 Apr 2017 Bitcoin Unlimited mining peaks at 50% of Bitcoin blocks, and is mining about 45% when averaged over 1000 blocks.
  • 10 May 2017 Bitcoin Unlimited proposes the Bitcoin Cash hard fork [28]
  • 01 Aug 2017 Bitcoin Unlimited, Bitcoin ABC and Bitcoin XT, create the Bitcoin Cash fork of the Bitcoin blockchain [29]
  • 10 Nov 2017 Bitcoin Unlimited mines a 1 billion byte block in a worldwide test network[30]

See also[edit]

References[edit]

  1. ^ a b c Hertig, Alyssa (25 September 2016). "A Controversial Bitcoin Alternative is Seeking a Comeback". CoinDesk. Retrieved 17 January 2017. 
  2. ^ a b Wirdum, Aaron van. "How Bitcoin Unlimited Users May End Up on Different Blockchains". Bitcoin Magazine. Retrieved 24 January 2018. 
  3. ^ a b Hayes, Adam (18 October 2016). "The Three Major Bitcoin Protocols Explained". Investopedia. Retrieved 18 January 2017. 
  4. ^ "BitcoinUnlimited: Bitcoin Unlimited integration/staging tree". BitcoinUnlimited. 23 January 2018. Retrieved 24 January 2018. 
  5. ^ Mike Orcutt (19 May 2015). "Leaderless Bitcoin Struggles to Make Its Most Crucial Decision". MIT Technology Review. Retrieved 15 November 2016. 
  6. ^ Stone, Andrew. "BUIP 001: Extensions to the Bitcoin Client". Bitcoin Forum. Retrieved 6 February 2017. 
  7. ^ a b c d e Aaron van Wirdum (25 January 2017). "A Closer Look at Bitcoin Unlimited's Configurable Block Size Proposal". Bitcoin Magazine. BTC Inc. Retrieved 6 February 2017. 
  8. ^ Jordan Pearson (14 October 2016). "'Bitcoin Unlimited' Hopes to Save Bitcoin from Itself". Motherboard. Vice Media LLC. Retrieved 17 January 2017. 
  9. ^ Bajpai, Prableen (26 October 2016). "What Is Bitcoin Unlimited?". Investopedia, LLC. Retrieved 8 November 2016. 
  10. ^ a b Hertig, Alyssa. "CoinDesk Explainer: The Bitcoin Unlimited Debate". CoinDesk. Retrieved 3 May 2017. 
  11. ^ Peter Rizun (23 November 2016). "The Excessive-Block Gate: How a Bitcoin Unlimited Node Deals With "Large" Blocks". Medium. Retrieved 18 January 2017. 
  12. ^ a b Solana, Jasmine. "Core's 1MB limit holds bitcoin community hostage, says cryptanalyst". CalvinAyre.com. Retrieved 4 May 2017. 
  13. ^ Vigna, Paul (17 January 2016). "Is Bitcoin Breaking Up?". The Wall Street Journal. Retrieved 8 November 2016. 
  14. ^ "Bitcoin Unlimited Financial Report: 1 June 2016 - 31 December 2016". Retrieved 17 June 2018. 
  15. ^ Nakamura, Yuji; Chen, Lulu Yilun (13 March 2017). "Bitcoin Miners Signal Revolt in Push to Fix Sluggish Blockchain". BloombergTechnology. Retrieved 13 March 2017. 
  16. ^ "Bitnodes". BitNodes. Retrieved 6 March 2017. 
  17. ^ Hertig, Alyssa (29 October 2016). "Bitcoin's Block Size Debate is Back (And It Might Be Worse Than Ever)". CoinDesk. Retrieved 18 January 2017. 
  18. ^ Bergmann, Christoph (3 February 2017). "Why Roger Ver's Mining Pool Lost 12.5 BTC because of a Bug in Bitcoin Unlimited". Btcmanager. Retrieved 6 March 2017. 
  19. ^ Nakamura, Yuji (15 March 2017). "Divisive 'Bitcoin Unlimited' Solution Crashes After Bug Discovered". Bloomberg. Retrieved 15 March 2017. 
  20. ^ Quentson, Andrew (24 April 2017). "Bitcoin Unlimited Nodes Crash Due to Memory Leaks". Cryptocoinsnews. Retrieved 15 March 2017. 
  21. ^ "Coin.Dance". coin.dance. Retrieved 18 May 2017. 
  22. ^ "Coin.Dance". coin.dance. Retrieved 18 May 2017. 
  23. ^ "Reddit". reddit.com. Retrieved 18 May 2017. 
  24. ^ a b c Stone, Andrew (28 Oct 2015). "Bitcoin Unlimited: Articles of Federation" (PDF). www.bitcoinunlimited.info. 
  25. ^ a b "About". bitcoinunlimited.info. Retrieved 3 May 2017. 
  26. ^ Peter Rizun (30 May 2016). Towards Massive On-Chain Scaling: Presenting Our Block Propagation Results With Xthin.
  27. ^ Joël Valenzuela (18 February 2017). Bitcoin Fork Soon? Bitcoin Unlimited Surges Past SegWit, Core Blocks Drop Below 75%. CoinTelegraph. Retrieved 27 March 2018.
  28. ^ Peter Rizun (10 May 2017). BUIP055: (passed) Increase the Block Size Limit at a Fixed Block Height.
  29. ^ Jamie Redman (13 November 2017). Bitcoin Cash Network Completes a Successful Hard Fork. bitcoin.com. Retrieved 27 March 2018.
  30. ^ Jamie Redman (10 November 2017). Bitcoin Unlimited Reveals Gigablock Testnet Performance. bitcoin.com. Retrieved 27 March 2018.

External links[edit]

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