Author: Tom Harding 2015-05-08 05:13:08
Published on: 2015-05-08T05:13:08+00:00
In an email, Jeff Garzik proposed 20MB blocks allowing for 140 transactions per second (tps), while A proposed 100MB blocks, enabling 700 tps. Garzik questioned what kind of system Bitcoin wants to build and how much traffic it can handle, whether it aims to support Paypal volumes or VISA volumes. Garzik pointed out that changing the block size is a short-term solution and that ultimately the question is where do we want to go with this currency. Alan has argued that 7 tps is too low and that there needs to be a higher limit, even with higher layers. However, there is uncertainty about how to accomplish 700 tps right now. Despite these uncertainties, if Bitcoin wants to bump the limit in the short term, starting now might just be the best option.
Updated on: 2023-06-09T19:36:44.699135+00:00