Author: Justin M. Wray 2015-08-29 05:41:03
Published on: 2015-08-29T05:41:03+00:00
A Bitcoin supporter and developer has proposed a new idea to address the ongoing debate around block size. The proposal suggests calculating a new block size every 2016 blocks (approximately two weeks) based on the average size of the previous 2016 blocks, which is then doubled and used as the maximum block size for the next 2016 blocks. If the new maximum size is calculated to be below 1MB, 1MB will be used instead. In addition, a block minimum of 25% of the current maximum will be introduced, with all blocks needing to be at least this size to be valid. This incentivizes miners to include transactions and ensures even miners mining the minimum are still confirming transactions. The proposal also includes measures to prevent block-size deflation attacks in the future.
Updated on: 2023-06-10T21:12:06.507350+00:00