Author: Venzen Khaosan 2015-07-18 04:32:48
Published on: 2015-07-18T04:32:48+00:00
A proposal has been made by Jeff Garzik as an alternative to the preferred BIP100. This proposal establishes a plan of action for dealing with the recent ramp-up in the number of transactions and transaction size, which may prove to be just-in-time considering the speculative rally brewing and implied increases in network usage. The proponents of solutions favoring dynamic vs. scheduled increases in block size should explore and map out their proposal with data sets, trend projections, and future scenarios. The current "sufficient" state of network capacity may soon experience "insufficient" moments. Therefore, developer confluence around a workable plan and testing should reasonably begin now. Jeff's proposal addresses an approaching capacity crunch while honoring decentralization and providing time for testing and alternative future innovations. It's the best solution the user base and developers currently have, considering its conservative block size increase, added capacity, low impact, and minimal implication for the network and its users. Many of the more far-reaching proposals being offered can be tested, formalized, and fleshed out with scenario data. Jeff Garzik has opened a mailing list thread on this BIP, and 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, proving 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.
Updated on: 2023-06-10T02:50:59.960634+00:00