China Bitcoin Rountable Resolution on the Implementation of the New York Agreement

Summary

The China Bitcoin Roundtable has agreed to support the New York Agreement (SegWit2x proposal) to address Bitcoin network congestion and promote sustainable development and innovation.

Abstract

The China Bitcoin Roundtable, comprising key stakeholders in the Bitcoin ecosystem, convened on June 15th, 2017, to address the critical issue of network congestion. In a unanimous decision, the members endorsed the New York Bitcoin Scaling Agreement, also known as the SegWit2x proposal. This agreement aims to expedite the scaling process of Bitcoin, ensuring its long-term viability and encouraging technological advancements. The roundtable members have committed to initiate voting on June 19th to signal their support for SegWit2x, using the "NYA" mark in coinbase transactions. They have also pledged to promptly test the btc1 software, participate in the testnet5, and deploy the beta version to facilitate the activation of SegWit2x by July 31st. The collective effort is backed by a broad coalition of miner manufacturers, exchanges, and mining pools.

Opinions

The roundtable members are in full support of the SegWit2x proposal as a solution to Bitcoin's scalability issues.
There is a strong desire to activate SegWit2x by the end of July, reflecting a sense of urgency to improve the Bitcoin network.
The participants are committed to demonstrating their support through practical actions, such as voting and testing the btc1 software.
The inclusion of "NYA" in coinbase transactions is a deliberate choice to visibly align with the New York Agreement and show consensus.
The roundtable's decision is a collaborative effort to ensure the sustainable and healthy development of Bitcoin, indicating a shared responsibility among the Chinese Bitcoin community.

China Bitcoin Rountable Resolution on the Implementation of the New York Agreement

In order to effectively resolve the problem of Bitcoin network congestion, speed up the Bitcoin scaling process, and realize the sustainable and healthy development and innovation of Bitcoin, we China Bitcoin Rountable called a meeting on Bitcoin protocol upgrade on June 15th, and all the participating members unanimously agreed to the New York Bitcoin Scaling Agreement and reached the following resolutions, with the support from miner manufacturers, exchanges, and mining pools: 1、 We support the New York Agreement (SegWit2x proposal); 2、 We’ll start voting on June 19th (next Monday) to support the SegWit2x proposal. To avoid the impacts on the consensus rule changing mechanism of BIP9, we’ll input “NYA” as the marks in coinbase to show our support of the New York Agreement (SegWit2x proposal). 3、 We’ll immediately start testing btc1 (https://github.com/btc1) software and join testnet5 based on SegWit2x proposal, and deploy it as soon as possible after the release of beta version. 4、 We eagerly hope to activate the SegWit2x proposal by July 31st. Members: 1hash.com Aihua Lau (Bitkan.com) Ang Li (Canoepool.com) Gang Wu (Bixin.com) Haipo Yang（ViaBTC.com） Jiawei Zhu (Huobi.com) Jihan Wu (Bitmain) Jiang Zhuoer（BTC.TOP, LTC.TOP） Lan Hu (BW.COM) Mingxing Xu (OKCoin.com) Peicai Lee （Easy Mining Tech） PZ ( the convener of China Bitcoin Rountable) Qianjie Zhao(pool.btcchina.com) Ruixi Wong (BATPOOL.com) Ryan Xu (Collinstar Capital Australia) Shixing Mao (F2Pool.com) June 15th, 2017