Author: Tao Effect 2016-02-08 22:24:01
Published on: 2016-02-08T22:24:01+00:00
Bitcoin developers are discussing the possibility of a hard fork in response to two major challenges facing Bitcoin today: mining centralization and privacy. Hard forks should come in response to a major crisis that all participants agree is an actual crisis, and must be a rare occurrence. In order to avoid significant risks involved in a hard fork, the technical community working together to plan for all of the things that might go wrong is key to not destroying significant value. Recently there has been unification around a single vision of roughly 2MB of transactions per block, whether via Segregated Witness or via a hard fork. The way forward involves taking this opportunity to add small increases in decentralization pressure, where possible. Along similar lines, we may wish to switch MAX_BLOCK_SIGOPS from 1-per-50-bytes across the entire block to a per-transaction limit which is slightly looser. Hard forks must address the real threats and challenges that are facing Bitcoin today.
Updated on: 2023-06-11T03:51:15.120898+00:00