Author: gabe appleton 2015-05-26 02:41:28
Published on: 2015-05-26T02:41:28+00:00
The email thread discusses the issue of expanding Bitcoin's capacity to handle increasing transaction demand. The risks and trade-offs of increasing block size to 20MB or decreasing block time to 1 minute are outlined, including longer processing and sync times, weaker confirmations, and higher orphan rates. A middle-ground approach is suggested, with network simulations at various configurations to find a solution that doesn't have immediate consequences. One suggestion is to decrease the time it takes to make a 1MB block to increase transaction throughput without slowing down block propagation. The discussion highlights the need for action to expand capacity, with the suggestion to increase block size to 20MB as soon as possible and let miners decide how to charge enough fees to cover costs. The email ends with a quote and a reminder to think twice before printing messages.
Updated on: 2023-06-09T21:03:47.748525+00:00