Author: Ross Nicoll 2015-05-07 18:59:41
Published on: 2015-05-07T18:59:41+00:00
In a discussion about increasing the block size limit for Bitcoin, there was a suggestion to raise it dynamically instead of to a static number. The proposed formula was to set the max block size as pow(2, nHeight/100000) * 1MB; which would double every ~2 years. However, some concerns were raised about this approach leading to miners sending huge fees to themselves with transactions that aren't relayed, ultimately making the network allow bigger blocks. It was agreed that an increase schedule is an option if people agree on it, but jumping straight to a value big enough for "indefinitely" is a huge jump. Therefore, a gradual increase schedule may be the better option.
Updated on: 2023-06-09T19:33:30.169652+00:00