Author: Oliver Petruzel 2017-05-29 23:49:59
Published on: 2017-05-29T23:49:59+00:00
There is currently a proposal for a 2 MB block size hardfork in the Bitcoin community. According to experts, this is the best way to implement this change, as long as it is adopted unanimously. One of the main concerns with increasing block size is the impact it will have on transaction fees. However, legacy Bitcoin transactions are given a witness discount, which helps mitigate this issue. To implement the 2 MB block size hardfork, a block size limit will need to be imposed. This will ensure that the new block size is enforced and that the network runs smoothly.
Updated on: 2023-06-12T01:24:27.495227+00:00