Cardano Increases Block Size By 12.5%, What This Means
Cardano has been making important changes to its blockchain since the launch of smart contracts capability. This had brought with it an increased usage and thus needed to be more scalable to accommodate this increase. Since the launch in September, there have been a number of improvements to the network and the latest is the increase in the block size. Increased Block Size In Cardano Cardano, in a recent blog post, announced that they were increasing block size by 12.5% to make room for the increased traffic that is expected on the network. The 8KB increase will see the total block size....
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In this article I will explain how the size of Bitcoin blocks is determined in the absence of an arbitrary size limit. Oleg has already written an excellent post on this topic, but I have a few things to add and I wish to relate the discussion to the current debate over increasing the block size. If the maximum limit on block size is removed, it is not the case that blocks will simply grow without limit. There is a natural size that is determined by the market. The block size will change until the marginal revenue of adding more transactions approaches the marginal cost; this could happen....
The Cardano Vasil hard fork had been expected for months, and finally, it is a reality. The hard fork had proceeded according to schedule, and by Thursday, September 22nd, the hard fork was live on the network. It was received amid much fanfare from the community, but the network’s native token, ADA, had not reacted as well. Cardano Vasil Hard Fork Completed The Cardano Vasil hard fork was targeted toward making the network more efficient than it is already. In turn, this would make it a better platform for developers to build upon. It is the most important upgrade that has been carried....
Bitcoin XT, also known as BIP-101 (Bitcoin Improvement Proposal -101) has been making a gradual progress. Bitcoin XT was introduced by two Bitcoin Core developers – Gavin Andresen and Mike Hearn. It is supposed to be one of the answers to the prevailing Bitcoin block size issue. Bitcoin XT or BIP-101 proposes the block size to be increased from the current size of 1 MB to 8 MB followed by doubling of block size every alternate year. The main reason for the proposal was to ensure that the Bitcoin network is future-proof and scalable. Currently, the smaller block size of 1 MB has a....
Bitcoin payment processor Bitnet has indicated it is willing to implement block-increase proposals other than BIP (Bitcoin Improvement Proposal) 101. This makes Bitnet the third signatory of the industry letter supporting BIP 101 that indicates that it is open to alternative proposals. Bitnet co-founder and CTO Stephen McNamara told Bitcoin Magazine that he is still convinced that the block-size limit must be increased sooner rather than later. While the industry letter sent out in August of this year expressed support for BIP 101, which increases the block-size limit to 8 megabytes and....
It is important to note these details are not officially confirmed by any of the Chinese mining pools right now. For those people who assumed the Bitcoin block size debate was settled once and for all, bust open the popcorn yet again. Chinese mining pools are colluding to hard fork and support 2MB blocks. In doing so, they would go against everything Bitcoin Core has been working on so far, and use Bitcoin Classic instead. The Bitcoin block size debacle has been a source of great controversy for nearly a year now. Many experts feel the Bitcoin block size needs to be increased, yet there....