Author: Angel Leon 2015-08-11 09:14:07
Published on: 2015-08-11T09:14:07+00:00
The debate about the need for bigger blocks in Bitcoin has been ongoing, with some arguing that it is necessary to accommodate the potential growth in the number of users and transactions. However, others believe that a larger block size could lead to centralization and undermine the core principle of policy neutrality. The fear is that if decisions are made that destroy this principle, then Bitcoin will no longer be interesting. It could be censored, shut down or its rules changed from underneath users. While some argue that 8MB blocks would not be a problem, others claim that this limit is too high and inadequate for handling the volume of transactions required to compete with Visa/Mastercard. Without a doubt, there is a need for optimization in the blockchain's distribution system and propagation time. However, the current stalemate can only lead to failure, and alternatives such as Stellar may emerge as the solution if Bitcoin fails to address its scalability issues.
Updated on: 2023-06-10T18:28:17.539042+00:00