Bitcoin wallet company proposes new expansion plan, experts say it is not safe

Golden Finance News - Recently, the debate about Bitcoin expansion has taken a new turn. The development team of Bitcoin wallet Purse recently proposed a new expansion solution, and they plan to implement this conjecture on the test network. This plan is called "extension blocks".

(The Bitcoin wallet Purse team proposed a new expansion plan. Image source: Golden Finance)

Earlier this month, the bitcoin wallet company outlined its vision for “extension blocks” in a blog post, and the testnet will allow users to interact with the working code for the new technology available on GitHub.

So far, the publication of the article seems to have sparked the attention of early supporters. The proposal proposes to separate the capacity of Bitcoin blocks from the network consensus rules of the Bitcoin blockchain, essentially allowing miners to set their own version of the block capacity limit. (It looks similar to Bitcoin Unlimited, but more confusing.)

BitPay CEO Stephen Pair announced that his company will participate in the technical evaluation of the test network and supports the idea of ​​implementing it in the future, depending on the results of the testing.

“If it passes review, we may support activation on mainnet.”

For those who haven’t been following the details, extension block proponents see it as a way to expand the network’s capacity and to attract the various factions in the current bitcoin scaling debate, thereby forging consensus among developers and bitcoin mining pools that have previously been at a disadvantage.

However, client support for extension blocks is not universal.

In a series of emails discussing the Purse team’s extension block proposal, Bitcoin Core developer Luke Dashjr assessed the proposal as adding more “technical debt” to bitcoin’s ability to scale.

Johnson Lau, the author of the extended block theory article published in January this year, also issued a reminder:

“Logically, if SegWit is not secure, then this extension block proposal is only worse.”