A new edition of the Bitcoin “block war”, which in the past gave rise to several BTC forks, may be about to happen, and this time, it will be up to 100 times more intense.
Samson Mow, CEO of the company JAN3, shared his perspectives in an interview on the “What Bitcoin Did” podcast with Bitcoin enthusiast Peter McCormack. According to him, currently no one advocates a change in BTC blocks, but large companies that have entered the crypto market are beginning to want to “have a say” in the developments of the Bitcoin code.
To understand the context, we need to go back to 2015, when a crucial dispute arose in the Bitcoin community regarding the size of transaction blocks. This controversy resulted in the creation of the famous Bitcoin fork called Bitcoin Cash in 2017.
At the time, companies, miners, developers and organizations linked to Bitcoin came into conflict. On one side, there were advocates of a maximum block size of 1 MB. On the other, supporters of expanding the size to process more transactions on the network.
Currently, Mow clarifies that we will not necessarily see a “bloc war” in the literal sense, but he predicts “some kind of conflict” in which “much more will be at stake”. He believes this hypothetical war will be “100 times bigger than the first” due to the current players being much bigger.
Bitcoin block war
The Bitcoin ecosystem has changed significantly. Now, major figures in the global financial system are involved. Renowned companies like BlackRock and Fidelity have their own BTC-based exchange-traded funds (ETFs) and manage thousands of units of this digital currency.
“Before, we thought Coinbase and Bitmain were big, but now we have BlackRock and Fidelity. What if they take the wrong side?” asks Mow.
He exemplifies with a hypothetical scenario in which the famous “Travel Rule” of the International Financial Action Task Force (FATF) is applied to the Bitcoin protocol. Large corporations, such as BlackRock, can have significant influence in these decisions.
Furthermore, Mow notes that there is a stronger “cult of personality” in Bitcoin today than in 2015. Figures like Roger Ver were prominent back then, but now, at events like Bitcoin Atlantis, we see people hailing the likes of Michael Saylor. If Saylor aligns with BlackRock, it will be a battle in which Bitcoin Core could be devastated, Mow believes.
Source: https://www.criptofacil.com/guerra-dos-blocos-pode-acontecer-novamente-no-bitcoin-diz-desenvolvedor/
