Author: Alex Morcos 2015-08-10 14:24:18
Published on: 2015-08-10T14:24:18+00:00
The email conversation between Gavin Andresen and Jorge Timón discusses the reasons for increasing the block size limit in Bitcoin. While fear of "bad things happening" is one reason, there are other issues such as fee estimation and mempool expansion that can only be fully understood when blocks are full. Andresen believes that these concerns should not be the reason to prevent an increase in the block size limit, but rather a sign that the technology is still immature and needs improvement before scaling to world acceptance levels. He also highlights the importance of fundamental improvements to the science of cryptocurrencies, such as segregated witness and confidential transactions, which are being overshadowed by the debate over block size. Andresen emphasizes that networks become unreliable when over-saturated and that without an increase in the block size limit, Bitcoin will become both unreliable and expensive. However, he does not find the arguments for immediate action convincing, instead suggesting a focus on improving the technology before attempting to scale it further.
Updated on: 2023-06-10T18:26:56.941603+00:00