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RE: We are now exactly 24 hours away from Bitcoin Hard Fork (August 1st 12:20pm, NOT am)
Very informative article, thanks for the value-add! Have upvoted your article.
Can you explain what the 'Emergent Consensus' means?
Thank you very much! 'Emergent Consensus' is a proposed bitcoin protocol just like segwit and others. It proposes to allow for variable block sizes (currently the block size is fixed at 1MB, BCC will be 8MB, and in 3 months there will be debate about BTC going for a fixed 2MB size). The name can be confusing because in Bitcoin and due to its decentralized nature, basically every protocol, including Segwit, requires "consensus" to be implemented, while "Emergent consensus" is not a consensus at all, it is a protocol. Emergent consensus is actually pretty far from being implemented, if ever.