Author: t. khan 2016-12-05 15:27:32
Published on: 2016-12-05T15:27:32+00:00
A proposal has been made for managing Bitcoin's block size through a system similar to how difficulty is calculated. The proposal, known as Block75, suggests adjusting the maximum block size every two weeks based on the average block capacity over the previous 2016 blocks. The target capacity over 2016 blocks would be 75%, and if the last 2016 blocks are more than 75% full, the difference would be added to the max block size. The proposal attempts to keep blocks at 75% total capacity over each two week period, in a method that prevents wild swings in block size or transaction fees. The proposal allows the max block size to grow (or shrink) in response to transaction volume, and does so predictably, reasonably quickly, and in a way that keeps blocks as small as possible. The current max block size under Block75 would be 1,150K after the December 2nd adjustment, while the proposal could have set it to 1,080KB if applied during the difficulty adjustment on November 18th.
Updated on: 2023-06-11T20:52:21.763701+00:00