Bitcoin is a popular decentralized currency, which means that no single entity controls it and that anyone can use it. Bitcoin uses peer-to-peer technology to operate without a central authority: the Bitcoin network manages transactions and issues money collectively. Bitcoin is open-source; its design is open to the public, no one owns or controls Bitcoin, and anyone can participate. Because of many of its unique properties, Bitcoin enables novel applications that could not be supported by any previous payment system.

Bitcoin Classic is software that allows users to increase the size of their Bitcoin blocks from 1 to 2 MB to make Bitcoin more scalable. It arose as a result of disagreement over how Bitcoin’s block size should scale. It represents one possible solution, but Bitcoin still faces scaling issues, and Bitcoin Classic is not the only option.

Bitcoin Classic adeptly permits Bitcoin miners to actively indicate their preferred Bitcoin block size, with each variant represented by a different numeric value. While Bitcoin may take the same approach as Bitcoin Classic, other solutions may emerge or grow as well. Whereas in HYIP business it is enumerated that integrating key advanced features on an HYIP investment site needs best HYIP Script or HYIP Software.

The size of a Bitcoin block is a contentious issue. Leading members of the Bitcoin community have proposed four solutions as the next step for the currency. The Bitcoin Classic team, led by Jonathan Toomim, has been hard at work developing a fork of Bitcoin Core that includes a 2MB block size increase. They recently released version 1.2 beta and have begun mining new blocks on the test net with their solution. The plan is to activate this fork in March 2016, after which all miners will have to start mining with Bitcoin Classic to produce valid blocks.

Another alternative solution for scaling Bitcoin is the Bitcoin XT team, led by Gavin Andresen. It takes a slightly different approach than Bitcoin Classic or Bitcoin Unlimited in that, rather than allowing miners and users to vote on block size limits via miner and user votes (e.g., BIP-100), it proposes changing Bitcoin’s block size limit to 8MB via Bitcoin Improvement Proposal 101. Bitcoin XT also includes BIP-101, which allows miners to vote on the maximum acceptable Bitcoin block size. If Bitcoin XT becomes popular, increasing the block size of Bitcoin will likely become difficult or impossible in the future; however, Bitcoin XT only has an 8MB limit.