Author: Jorge Timón 2015-05-07 13:40:23
Published on: 2015-05-07T13:40:23+00:00
The mean block size has been increasing steadily, and there are concerns about the impact of removing the standard policy limit without observing its effects. If all blocks reach 1M bytes, it could cause a major problem in terms of transaction confirmation times. This is especially true for free transactions, which may take longer to be included. There are currently many zero-fee transactions getting relayed and mined, but if things slow down, there will be an incentive to delay or drop them altogether. Miners are facing a major problem at the next block reward halving, and without meaningful fees, many will have to leave the network, increasing centralization risks. Increasing fee competition is seen as a solution, and proponents are against increasing the block size. The orphan rate is still high, and it's likely to increase with 20M byte blocks. There are concerns about the security implications of larger blocks, including whether they could be used to put other validators at a disadvantage in a variant of a selfish mining attack. Bigger blocks also give a competitive advantage to bigger miners.
Updated on: 2023-06-09T19:39:58.889432+00:00