Author: Michael Naber 2015-06-27 16:09:16
Published on: 2015-06-27T16:09:16+00:00
The goal of Bitcoin Core is to provide the best solution possible for global consensus. Although off-chain solutions are useful in their respective domains, they do not solve the global consensus problem with greater efficiency than Bitcoin. The block-size is not a free variable and increasing it would raise concerns over future computing resources. Additionally, half of the parameters listed by Michael Naber, such as lowest-fee, highest-capacity, and fastest, conflict with each other. Instead, the block size limit should be manually increased as demand occurs, except in the special case where it would cause an undue burden upon users wishing to validate the integrity of the blockchain. Compromising on raising the block size to a static 8MB now with a plan to increase it further should demand necessitate, except in the special case above, is a reasonable path forward. The Lightning Network paper and the Duplex Micropayment Channel paper explain layer 2 technology, which constitutes an early stage layer 2, and some of them even have on-chain netting and scale faster than the block-chain.
Updated on: 2023-06-10T01:22:57.068048+00:00