Author: Ivan Brightly 2015-09-08 13:52:00
Published on: 2015-09-08T13:52:00+00:00
The discussion among Bitcoin developers is focused on the maximum block-size of Bitcoin, which is one that can be filled at zero-cost by miners and allows some kinds of amplification of selfish-mining related attacks. Developers agree that changing the fundamental rules for Bitcoin should be hard, and for this reason, scaling BIPs such as BIP101, Pieter's proposal are preferable for their predictability and simplicity. Miners are fully capable of producing smaller blocks regardless of the max block limit, with or without collusion. The only reason for reducing the max block limit other than technology availability is to produce the fee market, which is back to an economic discussion rather than a technology scaling discussion. It is argued that if the blocksize can only increase, it's like a market that only goes up which is unrealistic since transaction volume ebb and flow significantly. If the fee market is not to be hurt, the blocksize has to be elastic and allow contraction as well as expansion.
Updated on: 2023-06-10T22:14:17.657622+00:00