Author: t. khan 2017-01-02 18:04:37
Published on: 2017-01-02T18:04:37+00:00
The Block75 algorithm has been updated based on feedback from the community and further simulations. The new algorithm aims to keep blocks 75% full by increasing the maximum block size by a certain percentage, calculated using the current maximum block size, average percentage full of the last 2016 blocks as a decimal, target capacity (0.75), and a constant x. This would be calculated every 2016 blocks along with difficulty. The old algorithm capped growth at 250KB, but the new one allows for an increase of up to 25% over the previous max block size. However, it's not possible to reach this theoretical maximum in practice. Block75 should maintain transaction fees at about the level they were in May/June 2016 when blocks started hitting 75% full somewhat consistently. The activation of this new algorithm would occur once 900 of the last 1,000 blocks mined signaled support, with a grace period of 4,032 blocks. The goal is to prevent a single relatively small mining pool from blocking Block75's adoption and to help negate some of the risks associated with a hard fork. There are also questions regarding how Block75 will play nice with SegWit and whether there is a need for a minimum max blocksize. The community is encouraged to provide their thoughts and predictions on how the new algorithm would behave, and to provide the numbers used to arrive at any conclusions. Overall, the hope is that 2017 will be the year the block size debate ends.
Updated on: 2023-06-11T20:59:00.190705+00:00