Author: jl2012 at xbt.hk 2015-07-30 18:14:50
Published on: 2015-07-30T18:14:50+00:00
Bitcoin developers have proposed four block size BIPs, including BIP100 by Jeff, BIP101 by Gavin, BIP102 by Jeff and BIP??? by Pieter. The controversial issue surrounding the proposals is whether to initiate a hardfork using a BIP34-like voting mechanism. However, BIP101 proposes this approach while the other three oppose it. When to initiate the hardfork also varies across the four BIPs. BIP100 sets the date at 2016-01-11, BIP101 suggests two weeks after 75% miner support but not before 2016-01-11, BIP102 at 2015-11-11 and BIP103 in 2017-01-01. Regarding block size at initiation, BIP100 suggests 1MB, BIP101 proposes 8MB, BIP102 recommends 2MB while BIP103 agrees with BIP100 on 1MB. Additionally, BIP100 allows for further increase or decrease through miner voting, ranging from 0.5x to 2x every 12000 blocks (~3 months). BIP101 doubles the block size every two years, with interpolations in between (41.4% p.a. ), BIP102 has no provision for further increase or decrease while BIP103 supports +4.4% every 97 days (double every 4.3 years, or 17.7% p.a.). The earliest date for a >=2MB block according to BIP100 is 2016-04-03 (assuming 10 minutes block), BIP101 is 2016-01-11, BIP102 is 2015-11-11 while BIP103 is 2020-12-27. Concerning the final block size, BIP100 sets the maximum at 32MB, which could be reduced through miner voting. BIP101 suggests 8192MB, BIP102 proposes 2MB while BIP103 recommends 2048MB. Finally, the date for the final block size varies across the four BIPs, with BIP100 leaving it to miners to decide, BIP101 setting it at 30 years after initiation, BIP102 proposing 2015-11-11 and BIP103 recommending 2063-07-09.
Updated on: 2023-06-10T17:53:32.982348+00:00