Bitcoin mining pool Bitclub switches computing power and supports BU+isolated verification

Yesterday, the Bitcoin mining pool Bitclub mined its first Bitcoin Unlimited (BU) block. At the same time, the mining pool has also expressed support for the BU protocol.

Bitclub chooses BU

Over the past few weeks, the BU client has gradually gained more support from miners. On March 17, Antpool switched 75% of its hashrate to support BU, and that evening, nearly 90% of the mining pool's hashrate turned to support BU. Now, Bitclub has also begun to quietly change the game process, switching from the previous Core client to BU.

(Data source: Blockchain.info)

Currently, Bitclub has a computing power of 3.2% of the total computing power of the Bitcoin network. With this part of computing power and the computing power support of Antpool, the support rate of BU has been greatly improved. As of press time, according to Coin Dance data, the support rate of BU miners is around 35%.

(Data source: Coin.Dance)

Reasons for switching hashrate

We contacted the Bitclub operator and they also shared with us the reason for switching hashrate. Bitclub said they were facing serious unconfirmed transaction issues. Bitclub's old users already send and receive a large amount of transactions, so new users are bound to encounter unconfirmed transaction issues.

Two important figures in Bitclub said they were disappointed with the current network congestion. The poor network processing speed has caused great inconvenience to Bitclub. They said that the reason for finally choosing to switch from Core to BU was to upgrade the Bitcoin protocol to accommodate more transactions. In addition, the two leaders also said that they have been paying close attention to the transaction volume of Ethereum. Judging from the rising transaction volume of ETH, they are very worried that Bitcoin will decline due to the network status.

Start taking action

With the continuous increase in transaction fees and the frequent occurrence of network congestion, it seems that more and more Bitcoin supporters are worried about the current state of the protocol. Bitcoin companies such as Bitpay and Coinbase have begun to change their business models because they cannot afford the high transaction fees. As the above problems have become an inevitable problem facing bitcoiners, node operators and miners have begun to take action.

The recent behavior of Bitclub and Antpool shows that these two major mining pools have given up on dialogue and are instead using computing power to directly prove their decisions.