Author: Sergio Demian Lerner 2015-08-07 21:37:01
Published on: 2015-08-07T21:37:01+00:00
In an email exchange between Sergio Demian Lerner and Mark Friedenbach, a discussion was had about the benefits and drawbacks of either doubling the block size or reducing the block rate to half, averaging five-minute blocks. Lerner suggested that most people would choose the latter option because it saves real time. Waiting 30 minutes for a three-block confirmation is considered such a long time, and doubling the block size does not change the user perception of Bitcoin in any way. However, Friedenbach argued that halving the block interval comes with costs to SPV proofs and mining centralization for the questionable benefit of a block expectation time that is still measured in minutes, not seconds. Doubling the block size is safer than halving the block interval for the same effect in aggregate transactions per second. Despite this, Lerner posed the question of why discussions often revolve around doubling the block size instead of reducing the block interval.
Updated on: 2023-06-10T18:51:29.435967+00:00