Author: Angel Leon 2015-08-17 12:38:06
Published on: 2015-08-17T12:38:06+00:00
The author proposes a solution to avoid transactional spikes that result in long waiting times for confirmation on the Bitcoin blockchain. Rather than relying on a fixed block size, which may not be able to accommodate unexpected organic usage peaks, the author suggests using the mean block size during the last 60-120 minutes as a scalability metric. If the blocks are starting to get full past a certain threshold, then the block size limit should be doubled for the next block to avert any crisis. On the other hand, if the mean block size goes below a certain threshold, then the maximum block size allowed should be halved until the desired level is reached. The idea is similar to the hashing difficulty and aims to keep the network churning without pretending that a certain size will be right at some point in time.
Updated on: 2023-06-10T20:06:04.393932+00:00