 It's time for the Daily Decrypt where currency competition is most definitely the name of the game I'm your host Amanda and today's episode is brought to you by Crypto Compare The first downloadable version of Bitcoin classic was released last week And since that time the number of Bitcoin classic nodes has jumped from about 10 to over 500 What is Bitcoin classic? Who's behind it? And is it the fork that finally could? Bitcoin classic is an alternative variant which seeks to replace Bitcoin core Currently its only difference from core is that it supports a double block size cap from 1 megabyte to 2 Roughly 5,000 clients are running core meaning the classic has about 10% of the adoption that core has This percentage is similar to what the Bitcoin XT variant had last year But Bitcoin XT failed to gain majority traction and speaking of XT Their node count has shrunk by about half possibly and probably due to a migration to classic But you've heard this story before Both Bitcoin XT and Bitcoin Unlimited have competed with core for several months now and neither has gained popular traction What makes anyone think that classic will be different? A team member of Bitcoin classic apparently did a good bit of homework before committing to the project He gauged the support for an increased block size not only from among Bitcoin's miners But also from among its largest companies and users in this chart the classic team member reports that 92% of Bitcoin's mining pools find a 2 megabyte block size either acceptable or preferable Statements from 23 Bitcoin companies including Coinbase, Bitstamp, and blockchain.info Indicate the same even Bitcoin Jesus Roger Veer today tweeted the specs of his own Bitcoin classic node core developer Turned classic developer Gavin Andresen has published some numbers about what it will take for classic supporters to officially part ways From core supporters. He writes that if 75% of Bitcoin's hash power or mining power becomes compatible with classic The official fork will be set for 28 days from that time This is being called a grace period and all non classic nodes during that time will have the option to upgrade to the fork If they like Andresen writes that he believes that 28 days is sufficient for the switch to take place Because if even 50% of hashing power switches to classic the Bitcoin core client is pre-programmed to tell its operator This version is obsolete upgrade required Classic is likely the last and best chance for those who would like to see Bitcoin's development return to something more in line With Satoshi Nakamoto's original white paper, but will it be enough? Whatever the outcome of the battle for Bitcoin's soul the first chapter of decentralized history is most definitely being written Today's episode is brought to you by crypto compare whether you're a day trader Investor or just someone who's curious about crypto currencies particularly how they stack up against one another Crypto compare is a place where you can easily compare markets analysis trade data and Mining hardware for various crypto currencies. You can check them out yourself at crypto compare.com You're lovely darling. I'm telling you you're really lovely. Have a fabulous day