Author: Adam Back 2017-01-10 10:04:27
Published on: 2017-01-10T10:04:27+00:00
Recently, there was a discussion on the bitcoin-discuss mailing list about the adaptive/automatic block size notion. Ryan J Martin expressed his concerns about such an approach, stating that it doesn't regard the optimal economic equilibrium for transaction fees and size. He also noted that an auto-adjusting size limit that ignores this could create unforeseen externalities for miners and users. He suggested that any auto-adjusting limit would need to have solid code that has a social benefit model built-in to adjust to an equilibrium that is able to optimize for each size point. In another email, t.k. proposed a BIP called Block75, which would keep blocks 75% full. They used daily average block size over the past year to estimate how Block75 would have altered the max block sizes. According to their estimates, if Block75 were activated today, the max block size one year from now would be 2,064KB. However, they noted that this is just an estimate and welcomed alternate ways to model future behavior through the Block75 algorithm.
Updated on: 2023-06-11T21:11:16.655698+00:00