governance functions. An example of a BitNation app under development is its arbitration and dispute resolution app through which users can pseudonymously participate in group dispute resolution chats, appoint arbitrators and call forth witnesses.
BitNation had originally issued its tokens on the Bitcoin blockchain via the Counterparty protocol. However, it recently announced that it will burn those tokens and that it is exploring its options for living on the Ethereum blockchain where it may eventually issue its own tokens once again.
BitNation's system of governance is being dubbed a 'Holacracy' - a form of governance in which individuals, holons, are simultaneously autonomous and yet a part of the general whole. In this system, instead of voting on an issue, a holon can propose to do something and other holons who find themselves in agreement can choose to fund the initiative with their tokens.
BitNation's Holacratic Constitution is set to be coded into the Ethereum blockchain tomorrow, February 15, 2016, in Rio de Janeiro, Brazil. Although BitNation believes in the language of its Constitution, it still plans to develop and implement tools for people who don't jive with their idea of a Holacracy to create their own nation states and governance guidelines.
If you'd like to watch the BitNation Holacratic Constitution be enshrined on the Ethereum blockchain, point your browser towards BitNation's Facebook page where you'll find the latest updates on this event.
Bitcoin Classic Update
Bitcoin Classic is a variant to the Bitcoin Core codebase which differs primarily in that it supports a 2MB block size. The first downloadable version of its codebase was released last week and since that time the number of Bitcoin Classic nodes has increased to over 500 or approximately 10% of the number of nodes running Bitcoin Classic. This is roughly the same level of adoption that Bitcoin XT achieved last year in its yet-to-be-successful attempt at unseating Bitcoin Core. Of all the variants that have attempted such a feat, Bitcoin Classic and its focus on simply doubling the block size seem to be earning the support of miners, users and Bitcoin companies alike.
Gavin Andresen, ex-Core developer now a Classic developer, estimates that, if 75% of Bitcoin's hashpower becomes compatible with the Classic codebase, a hard fork will be scheduled to take place approximately 28 days later and those still running Core nodes will have the chance to upgrade to Classic. If even 50% of hashpower switches to Bitcoin Classic, the Bitcoin Core codebase is pre-programmed to give a warning that an upgrade is available.
Bitcoin Classic may well be Bitcoin's last chance to return its development to more of an alignment with the vision Satoshi Nakamoto had for Bitcoin in his original whitepaper.
Miners on Bitcoin Classic
At the time of this episode, Bitcoin mining pools KnCMiner and SlushPool had mined 14 Bitcoin Classic blocks out of the last 1000 Bitcoin blocks. The world's largest contributor to Bitcoin's hashpower, F2Pool mining pool, also announced this week that it would allow their miners to vote on whether or not they want the bigger blocks being offered by Bitcoin Classic.