Bitcoin lost more than 20 percent of its value over the weekend as a growing split among developers threaten to break the digital currency in two.
The popular digital currency reached a low $988 during Sunday’s trading—a huge drop from last week’s high of $1,259—as the debate among bitcoin developers continue to escalate.
Bitcoin is popular due to its underlying blockchain technology, which enables transactions to get traded in batches called “blocks.” But developers are disputing on whether the block chain size limit should be adjusted to support more transactions.
Bitcoin’s code limits the size of block transactions to one megabyte, and to change the limit, one must first get the consent of the “miners” who have accumulated enough computing power to handle all the transactions. However, many of the miners fear that adjusting the limit could affect their economics.