Author: Ahmed Zsales 2015-08-18 22:51:08
Published on: 2015-08-18T22:51:08+00:00
The proposed block size hardfork is set to occur on June 1, 2016. The original date was supposed to be in December 2015 but was pushed back to January 2016 and then again to June due to busy periods for both individuals and businesses. However, it was decided that July or August would be the best time as people tend to go on holiday during this period, making it a quiet time. It is important to take into account the reward halving which is likely to happen in 3Q2016 and avoid having forks and reward halving happening simultaneously. If no other consensus can be reached before February 1, 2016, the backup plan will be adopted. The backup plan involves a block size increase of 1.5MB, 30 days after 80% of miner approval, but not before June 1, 2016. If the backup plan is used, it is agreed upon that a better solution should be found before December 31, 2017.
Updated on: 2023-06-10T20:21:47.166987+00:00