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Mark Lennihan / AP

Just a few weeks after bitcoin announced that it was splitting into two separate entities, the initial version of bitcoin and its new "bitcoin cash," the network is adding a third version, per Motherboard.

  • Bitcoin first split in two as a result of the initial network's failure to keep up with the market's rapid transaction growth.
  • With the introduction of bitcoin cash (#2), the currency could offer a transaction capacity eight times the size of the original bitcoin, which developers hoped would ease some of the currency's current back-log issues (and so far bitcoin cash has done just that).
  • But now, a different group of bitcoin developers are urging for a third option, one that will combine the best of the two currencies; essentially a new bitcoin blockchain with its own set of rules.

Potential problems: Three separate currencies could spur a debate over which currency is understood as the "true bitcoin." And juggling three cryptocurrencies could also lead to one dying out.

The idea for the new version dates back to May, when Bitmain, the largest bitcoin infrastructure company in the world, and bitcoin developer Jeff Garzik, got together and signed the "New York Agreement," under which they agreed to adhere to a certain block size increase (two megabytes) alongside segregated witnesses. They call it the Segwit2x, and it's expected to be launched at some point in November.

A breakdown of the three cryptocurrencies, as featured in Motherboard:

Bitcoin

  • One megabyte blocks
  • Segregated witnesses

Bitcoin Cash

  • Eight megabyte blocks
  • No segregated witnesses

Segwit2x/New York Agreement

  • Two megabyte blocks
  • Segregated witnesses

Go deeper

Updated 4 hours ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

4 hours ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.

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