BIP [combined summary]

• BIP - Block size doubles at each reward halving with max block size of 32M Jorge Timón 2015-11-18 10:15:54+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Jorge Timón 2015-11-15 12:16:56+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Luke Dashjr 2015-11-14 21:27:51+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Luke Dashjr 2015-11-14 21:11:22+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Jorge Timón 2015-11-14 10:52:12+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Adam Back 2015-11-14 09:31:18+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M digitsu at gmail.com 2015-11-14 00:02:01+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Luke Dashjr 2015-11-13 22:28:46+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Luke Dashjr 2015-11-13 10:52:57+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M John Sacco 2015-11-13 09:50:47+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Btc Drak 2015-11-13 07:49:02+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Luke Dashjr 2015-11-13 06:39:51+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M John Sacco 2015-11-13 03:37:34+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M Chun Wang 2015-11-13 02:56:55+00:00
• BIP - Block size doubles at each reward halving with max block size of 32M John Sacco 2015-11-12 23:47:31+00:00

Published on: 2015-11-18T10:15:54+00:00

Summary:

On August 11, 2015, a proposal was made to gradually increase the maximum block size of Bitcoin. The proposal aimed to increase the block size to 2 MB at the next block subsidy halving and double it at each subsequent halving until reaching a maximum of 32 MB. This proposal was motivated by the desire to restore the block size to its original setting and provide a long-term solution that doesn't rely on assumptions about future bandwidth and storage availability.However, concerns were raised about the timeline for upgrading nodes, leading to a revised specification proposed on November 13, 2015. This revised specification suggested increasing the maximum block size to 2 MB at height 420,000, which was expected to be reached in 2032. It was noted that older clients would not be compatible with this change, potentially creating a network partition that excluded non-upgraded nodes and miners.The debate over block size and scalability issues in Bitcoin has been ongoing for years. In 2017, a compromise agreement called the "SegWit2x" proposal was reached, which included a soft fork to enable Segregated Witness (SegWit) and a subsequent hard fork to increase the block size to 2 MB. However, this proposal was ultimately abandoned due to lack of consensus within the community.Since then, other solutions such as the Lightning Network have been proposed and implemented to address scalability. Nonetheless, the debate over block size remains a contentious issue within the Bitcoin community, highlighting the challenges of finding consensus in a decentralized system.In summary, the proposal made in August 2015 aimed to gradually increase the maximum block size of Bitcoin to restore it to its original setting of 32 MB. The revised specification addressed concerns about node upgrades but introduced potential complications with older clients. The ongoing debate over block size and scalability highlights the difficulties of achieving consensus in a decentralized system.

Updated on: 2023-08-01T16:51:05.694271+00:00