Author: Ross Nicoll 2015-07-17 19:13:14
Published on: 2015-07-17T19:13:14+00:00
In a discussion on the bitcoin-dev mailing list, Chris Wardell proposed doubling the block size every 100k blocks (~2 years). His proposal was as follows: block 400,000 = 2MB (2016), block 500,000 = 4MB (2017), block 600,000 = 8MB (2018). Ross Nicoll supported this proposal, stating that he would back it if a permanent solution wasn't found. He added that his concern with block size was that 3 transactions per second is too small and that there needs to be space for the network to search for an equilibrium between volume and pricing without risk of an adoption spike rendering it unusable. Jeff Garzik opened a mailing list thread on this BIP and stated that the general intent of this BIP is as a minimum viable alternative plan to his preferred proposal (BIP 100). If agreement is not reached on a more comprehensive solution, then this solution is at least available and a known quantity. A good backup plan. The benefits of this proposal include conservative increase, proving the network can upgrade and permitting some added growth while the community & market gathers data on how an increased block size impacts privacy, security, centralization, transaction throughput and other metrics. However, the proposal would require a hard fork and another one down the road.
Updated on: 2023-06-10T02:53:40.553173+00:00