Author: Gavin Andresen 2015-06-22 18:18:19
Published on: 2015-06-22T18:18:19+00:00
Gavin Andresen has proposed a Bitcoin Improvement Proposal (BIP) to increase the maximum block size from one megabyte to 8,000,000 bytes, and double it every two years, until the limit reaches 8,192,000,000 bytes. The proposal needs a hash-power supermajority vote for activation, and will give miners, merchants, and full-node-running-end-users sufficient time to upgrade to software that supports bigger blocks. This is a hard-forking change to the Bitcoin protocol, and anybody running code that fully validates blocks must upgrade before the activation time or they risk rejecting a chain containing larger-than-one-megabyte blocks. Simplified Payment Verification software is not affected unless it makes assumptions about the maximum depth of a transaction's merkle branch based on the minimum size of a transaction and the maximum block size.
Updated on: 2023-06-10T00:19:55.487999+00:00