Author: Roy Badami 2015-06-23 20:55:40
Published on: 2015-06-23T20:55:40+00:00
The Blocksize Council meets annually to issue a decree on the maximum block size for the following year. This process is deemed too painful and has received criticism. The author suggests that the increase could continue for up to 20 years or until there is consensus to schedule a soft-fork to prevent further increases, whichever comes first. Although it is already feasible to halt the blocksize increase before reaching the final 8GB limit by a modest supermajority of miners pushing through a soft-fork, acknowledging the possibility of early termination may make the BIP more appealing. Additionally, setting the "20 years" figure at the upper range of what is reasonable does not cause any real harm, even though extrapolating exponential growth that far out would be deemed foolhardy in other circumstances.
Updated on: 2023-06-10T00:23:46.803559+00:00