Author: praxeology_guy 2017-03-29 19:36:25
Published on: 2017-03-29T19:36:25+00:00
Before increasing the block size, several things need to be done including defining a network protocol for UTXO snapshots, implementing SPV support from a pruned node with the latest snapshot, and conducting studies on the effects of increased block size on synchronizing node drop out. These fixes would address the problem of needing full blockchain history storage, but they require extensive testing. Without these fixes, any scheduling to increase the block size would be reckless. In addition, more consensus is needed before any block size increase can be agreed upon. The proportion of users believing no block size increases are needed is larger than the hardfork target core wants (95% consensus). Getting consensus will be difficult, but it is critical that it is done. There have been many proposals for increasing the block size over the years, but none have reached a simple majority of support among users. One proposal involves coding a patch now to remove the 1MB limit of the block size in Bitcoin Core's next release, but not activating it until spring 2020. This approach allows third-party services, libraries, wallets, and exchanges enough time to prepare for the fork.
Updated on: 2023-06-11T22:52:23.171108+00:00