Author: Mariusz Nowostawski 2015-11-14 16:08:18
Published on: 2015-11-14T16:08:18+00:00
In an email to the Bitcoin development community, Emin Gün Sirer posed the question of how to evaluate a truly perfect function for block size increase. He asked the community to first agree upon how to evaluate proposals before discussing specific functions. Several meta-level criteria were suggested, including increasing the block size while ensuring that large miners never have an advantage over small miners and increasing block size as much as possible subject to the constraint that 90% of nodes on the network are no more than one minute behind one of the tails of the blockchain 99% of the time. Additionally, the ability to run low-cost fully validating nodes, include additional data into the Bitcoin blockchain, reduce noise in the ledger, and address long-term scalability with well-defined auxiliary protocols to offer high-transaction throughputs were also proposed as important criteria. The discussion highlighted the need to re-evaluate the problem of scalability facing the Bitcoin network and focus on how to deal with the increasing demands on transaction throughput rather than solely on block size increase.
Updated on: 2023-06-11T01:13:17.507505+00:00