Block size hard fork
In 2010, a block size limit was introduced into Bitcoin by Satoshi Nakamoto. He added it as a safety measure to prevent miners from spamming large blocks and meant for it to be removed once secure lightweight wallets were developed.
There has been much community debate on this topic. You can read analysis and explanations for why we think raising the block size limit is important here:
- A series of essays by Gavin Andresen
- Why the block size limit must be raised and why the proposed alternative schemes will not work, by Mike Hearn.
Miners that side with Bitcoin XT will produce blocks with a new version number. This indicates to the rest of the network that they support XT. When 75% of the last 1000 blocks are new-version blocks, these miners will automatically abandon Bitcoin and begin mining on a new Bitcoin XT blockchain. This will begin after a waiting period of two weeks in hopes the economy in this time may force anyone who hasn't switched yet to do so.
- Hearn, Mike (27 August 2015). "An XT FAQ". Medium. https://medium.com/@octskyward/an-xt-faq-38e78aa32ff0. Retrieved 27 August 2015.
- Wilson, Fred (17 August 2015). "The Bitcoin XT Fork". AVC. http://avc.com/2015/08/the-bitcoin-xt-fork/. Retrieved 28 August 2015.