Author: Michael Naber 2015-08-11 21:31:49
Published on: 2015-08-11T21:31:49+00:00
The issue of rising the maximum block size limit in Bitcoin is a topic of much debate, with some arguing that it could lead to centralization and others insisting that failing to do so could result in the platform becoming obsolete. One user argues that centralization is only a concern if it affects things like reliability, transaction integrity, capacity, and accessibility. While some users argue that raising the block size is not urgent, others insist that doing so is critical to maintaining Bitcoin's status as "better money" than other currencies. This is because there is a risk that if other currencies can offer higher throughput at lower fees, they may replace Bitcoin. The consensus maximum block size should not be based on current or projected demand but rather on centralization concerns. It is argued that Gavin's suggestion for a 20 MB block size could increase mining centralization and centralization in general. However, if given a choice between two "centralization safe" sizes, the bigger one would be preferable.
Updated on: 2023-06-10T18:33:06.923045+00:00