Author: John Sacco 2015-11-13 09:50:47
Published on: 2015-11-13T09:50:47+00:00
A proposal was made on November 11, 2015 by John Sacco to gradually increase the block size of Bitcoin to 32 MB. The proposal suggested increasing the maximum block size to 2 MB at the next block subsidy halving, and then doubling the block size at each subsequent subsidy halving until reaching 32 MB. The motivation for this proposal was to gradually restore the block size to the default 32 MB setting originally implemented by Satoshi and to provide a long-term solution that does not make enthusiastic assumptions regarding future bandwidth and storage availability estimates. The proposal also aimed to exercise network upgrade procedures during the subsidy reward halving, a milestone event with the goal of increasing awareness among miners and node operators.After some discussion, a revised specification was proposed on November 13, 2015. This revised specification addressed concerns raised by Luke and Drak about the previous proposal's timeline for upgrading nodes. The new specification suggested increasing the maximum block size to 2 MB at height 420,000, which was expected to be reached in the year 2032. No further changes were made to the original proposal. It is noted that all older clients are not compatible with this change and the first block larger than 1M will create a network partition excluding not-upgraded network nodes and miners. The proposal was made public domain and anyone could use this text for any purpose with proper attribution to the author.
Updated on: 2023-06-11T01:05:52.038938+00:00