Author: Btc Drak 2015-09-08 08:49:31
Published on: 2015-09-08T08:49:31+00:00
The Bitcoin community is facing an issue with the block size, as it cannot keep increasing indefinitely. Transaction volume will ebb and flow significantly, and the block size must be elastic to expand and contract. To address this issue, Washington Sanchez proposed a BIP for a dynamic limit on the block size. The goal is to conservatively increase the maximum block size while providing meaningful relief to transaction volume pressure in response to true market demand. This would allow for a theoretical 13 increases per year, with the maximum block size only ever increasing and not decreasing. As the maximum block size increases, so does the cost of artificially triggering an increase. This proposal aims to address the issue of block size while also considering the fee market.
Updated on: 2023-06-10T22:13:42.752400+00:00