Author: Jorge Timón 2015-08-29 20:41:08
Published on: 2015-08-29T20:41:08+00:00
Btc Drak, a Bitcoin developer, has proposed an alternative to BIP 100 and BIP 101 that he believes will avoid the dangers of miner centralisation. Drak claims that miners must not have a blank cheque to increase block size, as this would go against Bitcoin's security model. Instead, he proposes that a hard cap on block size is introduced, giving miners the freedom to increase block size within defined parameters. Under his proposal, miners must collectively agree if they want to increase the size of blocks. This allows full nodes to retain control over miners and keep them honest by validating their blocks. One alternative methodology suggested by Drak involves paying extra difficulty to create a larger block and calculating the average or median of the last 2016 blocks every 2016 blocks, leading to a new maximum block size limit. Full nodes would still require an upper block size limit in order to retain control. Drak believes that BIP 100, BIP 101, and other proposals similar to them are over-engineering the situation, stating that “overly optimistic” assumptions about technological growth leads to these proposals being unrealistic.
Updated on: 2023-06-10T20:56:57.721830+00:00