Author: Will 2015-06-26 15:13:38
Published on: 2015-06-26T15:13:38+00:00
The discussion revolves around the block size limit in Bitcoin. The proposal is to make the default soft vote equal to the previous maximum block size multiplied by 1.09 every 12,000 blocks, ensuring that miners do not hardcode a specific value and allowing for growth at the hard cap rate. The hard cap serves as a safety limit in case of a misunderstanding of economics, incentives, or game theory. BIP 100 and 101 could be combined, which would increase the consensus on the matter. The proposed approach involves waiting for the miner vote threshold, setting the block size target and limits, and deciding the soft limit based on the miner's vote. Block size updates could align with the difficulty setting and be based on the last 2016 blocks. Legacy clients would remain until >80% of miners voted to raise the limit and a miner produced a >1MB block. If the hardware growth rate is overestimated, developers could add a limit into the core client, and the block size becomes min(miner's vote, core devs). Even with four years' notice, blocks would only be four times optimal.
Updated on: 2023-06-10T00:22:04.000721+00:00