Author: Raystonn . 2015-06-15 17:53:17
Published on: 2015-06-15T17:53:17+00:00
A developer named Rebroad sent an email to the Bitcoin Dev mailing list regarding the ongoing debate on whether to increase Bitcoin's 1MB block limit or not. Rebroad suggested that instead of hard-forking and increasing the block size, a merge-mining solution could be implemented where a forked Bitcoin with no block size limit could be mined alongside the original Bitcoin. This way, both versions can coexist and mining power is not divided. Rebroad cited Dogecoin as an example, which successfully underwent a similar hardfork and merge-mining process. Rebroad acknowledged that there are still scalability concerns that may arise from removing the block limit, but keeping the original Bitcoin preserves diversity and avoids risk to people's investment in Bitcoin. The Bitcoin core developers can implement a patch to allow the chain to fork at a set point, and branding will be important to avoid confusion between the two versions. However, increasing the block size limit through hard-forking could result in a severe market price correction. In a separate email thread, developer Mike Hearn discussed the importance of decentralization and how third party services can provide whatever developers need to build great apps, even if it fails to meet some kind of perfect cryptographic ideal.
Updated on: 2023-06-09T23:06:53.641912+00:00