Author: t. khan 2017-01-09 19:52:31
Published on: 2017-01-09T19:52:31+00:00
Block75 is a proposal to alter max block sizes in such a way that allows for growth, keeps blocks as small as possible and maintains transaction fees similar to May/June 2016. The proposal uses the past year's daily average block size and last year's growth rate to estimate how the max block size one year from now would be affected if Block75 was activated today. As of today, the max block size would be 1,135KB and one year from now, it would be 2,064KB using this model. The proposal uses an algorithm where new max blocksize equals x plus x multiplied by the difference between the average percentage full of the last 2016 blocks, as a decimal and Block75's target of keeping blocks 75% full. This calculation is done every 2016 blocks. While this is just an estimate, even accounting for a substantial increase in transactions in the last quarter of 2017 and changes brought about by SegWit activation, Block75 alters the max size in a way that allows for growth and keeps transaction fees manageable. The author invites anyone with an alternate way to model future behavior to run it through the Block75 algorithm.
Updated on: 2023-06-11T21:10:47.282531+00:00