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{{#seo:
|title= Bitcoin Classic. All about cryptocurrency - zaoniao Wiki
|keywords=Bitcoin Classic, classic, BTC, blockchain projects, cryptocurrency
|description=Bitcoin Classic is one of several forks of the Bitcoin reference implementation Bitcoin Core aiming to increase the transaction processing capacity of Bitcoin by increasing the block size limit
}}

[[File:Bitcoin-Classic.png|400px|right|Bitcoin Classic logo]]
'''Bitcoin Classic''' is one of several forks of the [[Bitcoin]] reference implementation [[Bitcoin Core]] aiming to increase the transaction processing capacity of Bitcoin by increasing the block size limit.<ref>[https://bitcoinclassic.com/devel/Blocksize.html Picking the perfect Blocksize]</ref> Blocks, which contain transaction data, form the basic structure of the immutable blockchain. Bitcoin Classic started out as similar to, though less aggressive than, the [[Bitcoin XT]] fork, which never managed to get the support it needed. Bitcoin Classic in its first 8 months promoted a single increase of the maximum block size from one megabyte to two megabytes.<ref name="paulvigna">[https://www.wsj.com/articles/is-bitcoin-breaking-up-1453044493 Is Bitcoin Breaking Up?]</ref> In November 2016 this changed and the project moved to a solution that moved the limit out of the software rules into the hands of the miners and nodes.<ref>[https://zander.github.io/posts/Classic%20is%20Back/ Classic is Back]</ref>

__TOC__
Bitcoin Classic is also an attempt to move the technical governance of this decentralized and independent Bitcoin project from the developers of the original Bitcoin to a voting process involving a larger community of miners, businesses, developers and users.<ref>[https://bitcoinmagazine.com/articles/unlimited-classic-and-bitpay-core-bitcoin-s-new-kids-on-the-blockchain-1452705977 Unlimited, Classic and 'BitPay Core': Bitcoin's New Kids on the Blockchain]</ref> There is no formal activation method for the software, but due to the nature of Bitcoin a supermajority needs to support it.

It claims support from developers: Gavin Andresen, Jeff Garzik, Pedro Pinheiro, Tom Zander, Jon Rumion, Peter Rizun and Sergio Lerner.

==Blockchain bottleneck==
{{#ev:youtube|8VpZ6bcpDBE|500|right|What is bitcoin classic and Closing its doors?}}
In Bitcoin, transactions are collected into blocks, and each block is produced by the bitcoin [[network]] on average every ten minutes. With Bitcoin's current limit of one megabyte, this capacity translates to an estimated average of three transactions per second. With Bitcoin Classic's proposed doubling of the block size limit to two megabytes, the maximum [[transaction]] rate would also roughly double.<ref name="bian">[http://www.newsbtc.com/2016/01/17/bitfury-announces-support-for-bitcoin-classic-2mb-block-size/ BitFury Announces Support for Bitcoin Classic]</ref>
If deployed, Bitcoin Classic would render current Bitcoin software obsolete, as it changes protocol parameters, namely increasing the maximum block size from one megabyte to two megabytes. Most implementations of Bitcoin software would require small modifications to the block size limit in order to continue to work.

==Reception==
Bitcoin Classic has received support from some Bitcoin companies, developers, investors and miners, such as [[Coinbase]], [[Bitstamp]], [[Circle (company)|Circle]], [[Jeff Garzik]], [[Roger Ver]] and [[Gavin Andresen]]. The Wall Street Journal said "Bitcoin Classic has emerged from the ashes of the XT versus Core debate. It is a version of Bitcoin that would allow for a two-megabyte limit. It appears to be quickly winning support." <ref name="paulvigna"/>
However a hard fork was not seen as an urgent issue by the wider bitcoin community. Opponents argued that increased size of blocks will lead to increased system resource requirements for operating a full node, which in turn will lead to increased centralization. The software's peak use was observed in early 2016 with a steady decline in usage from March 2016 onwards.

==Termination==
On November 10, 2017, in the wake of the failure of plans for the hard fork to double the bitcoin [[block]] size, Bitcoin Classic ceased operation, declaring that [[Bitcoin Cash]] is now the only hope for bitcoin to become scalable.<ref>[https://www.coindesk.com/bitcoin-classic-announces-closure-in-wake-of-segwit2x-suspension/ Bitcoin Classic to Cease Code Support In Wake of 2x Suspension]</ref>

== See also ==
*[[Block size limit controversy]]

== External links ==
* [https://bitcoinclassic.com/ Bitcoin Classic]
* https://bitcoinclassic.com/
* [https://github.com/bitcoinclassic/documentation/blob/master/roadmap/roadmap2016.md Bitcoin Classic Roadmap]
* [http://nodecounter.com/ Nodecounter]

== References ==
<references />
[[Category:Technology]]
[[Category:Bitcoin]]

Bitcoin Classic - Revision history

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