Author: Raystonn . 2017-03-29 19:50:48
Published on: 2017-03-29T19:50:48+00:00
The debate over block size increase in Bitcoin has been ongoing for some time. Jared Lee Richardson, a member of the Bitcoin developer community, believes that more consensus is needed before agreeing on any blocksize increase. He argues that neither the Big-blocks nor the low-node-costs factions have a simple majority of support. Raystonn, another member of the community, suggests that low node costs are important to maintain a decentralized network, but fees that prohibit economic activity could lead to centralization. Meanwhile, Wang Chun proposes a hard fork approach with a patch to remove the block size limit of 1MB, but not activate it until spring 2020. This would give everyone enough time to prepare for the fork. Hard forks are risky and should be well-prepared, but the block capacity is approaching its limit, and we must think ahead.
Updated on: 2023-06-11T22:52:30.634343+00:00