Author: Peter Todd 2015-06-23 19:28:38
Published on: 2015-06-23T19:28:38+00:00
In June 2015, Gavin Andresen proposed a block size increase for the Bitcoin network. The initial block size of 8,000,000 bytes was chosen after testing the implementation code with larger block sizes and receiving feedback from miners who were stuck behind bandwidth-constrained networks, particularly in China. The doubling interval was selected based on long-term growth trends for CPU power, storage, and Internet bandwidth. The goal was to allow more time for decentralized solutions to develop. However, Wladimir noted that the original intention of the block size increase was a one-time "scaling" solution. If bandwidth scaling does not go as planned, due to technological growth not keeping pace or actual bandwidth deployment, it could lead to centralization. It is unclear what mechanism will prevent centralization if this happens.
Updated on: 2023-06-10T00:23:29.047061+00:00