Author: William Madden 2015-06-24 03:05:50
Published on: 2015-06-24T03:05:50+00:00
The proposed Bitcoin Improvement Proposal 100 (BIP-100) aims to increase the maximum block size of Bitcoin. However, it has received criticism due to its unpredictable and untested dynamic based on voting mechanics. The proposal introduces a hard form to remove the static 1MB block size limit and adds a new floating block size limit set to 1MB, with a historical 32MB message limit remaining. Miners vote by encoding 'BV'+BlockSizeRequestValue into coinbase scriptSig, and votes are evaluated by dropping bottom 20% and top 20%. The most common floor is chosen, and the limit increase or decrease may not exceed 2x in any one step. These largely arbitrary voting rules can be manipulated and pose unnecessary risks to the already complex system.In contrast, Gavin Andresen's BIP proposes replacing the fixed 1MB maximum block size with a maximum size that grows over time at a predictable rate. After deployment on the network, the maximum allowed size of a block on the main network shall be calculated based on the timestamp in the block header. The deployment shall be controlled by hash-power supermajority vote, but the earliest possible activation time is January 11, 2016. Activation is achieved when 750 of 1,000 consecutive blocks in the best chain have a version number with bits 3 and 14 set. This proposal prioritizes implementation simplicity and allows implementations to know a block's maximum size after they have downloaded its header, but before downloading any transactions. It is considered a hard-forking change to the Bitcoin protocol.The website lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev provides a mailing list for developers who work on the Bitcoin network. The list was created to facilitate communication and collaboration among developers working on Bitcoin-related projects. The mailing list is open to anyone interested in contributing to the development of the Bitcoin network. The Linux Foundation hosts the mailing list, which is a widely recognized organization in the technology industry. The Linux Foundation is a non-profit organization that supports the growth of open-source software and promotes collaboration among stakeholders in the industry.The Bitcoin network is a decentralized digital currency system that allows users to send and receive payments without the need for intermediaries such as banks or payment processors. The network relies on complex mathematical algorithms and cryptography to ensure the integrity and security of transactions. As the network has grown, so too has the need for developers to work on improving and expanding the system.The bitcoin-dev mailing list provides a platform for developers to share ideas, discuss technical issues, and collaborate on new projects related to the Bitcoin network. The list is an essential resource for anyone who wants to contribute to the development of the Bitcoin network and help shape the future of digital currency.
Updated on: 2023-06-10T00:21:32.866014+00:00