Author: Jameson Lopp 2015-08-29 14:22:01
Published on: 2015-08-29T14:22:01+00:00
In a discussion on Bitcoin block size, Jameson Lopp recommends O(1) block propagation instead of introducing a mandatory minimum block size and points towards the Bitcoin Relay Network as a solution. Justin M. Wray suggests a variable block size that balances block propagation with long-term growth, while also being mindful of potential spam attacks. His proposal involves calculating the average size of blocks for every 2016 blocks and then doubling it to set the maximum block size for the subsequent 2016 blocks. A minimum block size is also introduced, which will be 25% of the current maximum, calculated at the same time. All blocks must meet this minimum size to be valid, and padding will be used for blocks that do not have enough transactions. The proposal aims to ensure that even miners wishing to always mine the minimum are still confirming Bitcoin transactions. Wray invites feedback on his proposal, suggesting that the network can adjust to address spikes in volume and readjust once those spikes dissipate.
Updated on: 2023-06-10T21:11:26.069192+00:00