Author: Peter R 2015-11-14 21:45:25
Published on: 2015-11-14T21:45:25+00:00
The debate over the block size limit in Bitcoin's governance can be resolved by first deciding whether it should evolve from the "top down" or "bottom up." The former means that experts balance trade-offs, while the latter means that people weigh them and consensus emerges through a decentralized process. If it is decided that Bitcoin should be governed from the "bottom up," then node operators should have the freedom to express their choice regarding the size of blocks they are willing to accept while still tracking consensus. Ultimately, the block size limit debate comes down to how big of a block a node will accept and what it will do if the longest chain includes a block larger than its set limit.
Updated on: 2023-06-11T01:13:56.175661+00:00