Published on: 2015-08-29T20:59:27+00:00
In a discussion on Bitcoin block size, Jameson Lopp expresses his opinion that introducing a mandatory minimum block size is wasteful and suggests focusing on O(1) block propagation instead. He recommends the Bitcoin Relay Network as a potential solution for faster block relay. Justin M. Wray proposes a variable block size that aims to balance block propagation with long-term growth and spam attack prevention. The proposal involves calculating the average size of blocks every 2016 blocks and doubling it to set the maximum block size for the following 2016 blocks. A minimum block size of 25% of the current maximum is also introduced to ensure miners are still confirming Bitcoin transactions. All blocks must meet this minimum size to be valid, and padding will be used for blocks lacking sufficient transactions. Wray invites feedback on the proposal, highlighting the network's ability to adjust to spikes in volume and readjust accordingly. The proposal also includes measures to prevent future block-size deflation attacks.
Updated on: 2023-08-01T15:42:18.872258+00:00