Author: Washington Sanchez 2015-09-09 13:10:43
Published on: 2015-09-09T13:10:43+00:00
The proposal suggests setting a "triggering level" for an increase in block size, indicating an increase in transaction volume that would fill up blocks. The appropriate triggering level is difficult to determine and consists of three parameters: evaluation period, capacity, and threshold. A period of 4032 blocks was selected for the evaluation period, a capacity level of 60% was chosen, and a threshold of 2000 blocks or ~50% was selected. If 2000+ nodes have a block size >= 60%, this indicates a real increase in transaction volume, and a block size increase of 10% is triggered. The proposal takes a decentralized approach similar to Satoshi's decision on altering the target difficulty. Additional calculations show theoretical maximums for block sizes and transaction processing capacity for each year until 2020. The proposal allows for at least 4-5 years to develop efficiency improvements and network infrastructure.
Updated on: 2023-06-10T22:14:09.394684+00:00