Gregory Maxwell & Gavin Andresen Shed Interesting Light on Bitcoin Block Size Debate
One of the main reasons why the Bitcoin block size debate has been attracting so much attention is that there is a growing number of network transactions that need to be validated. By increasing the Bitcoin block size limit, more transactions can be included in every network block. According to Gregory Maxwell, there is no real need to include more....
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The Bitcoin block size debate is still far from over, as a new capacity increases page with initial signatures has been posted on GitHub very recently. Quite a few prominent names in the Bitcoin industry have all signed the roadmap, including Charlie Lee, Cory Fields, Gregory Maxwell, and, surprisingly enough, Theymos. Whether or not a consensus can be reached regarding this proposal, remains to be seen, though. The proposal in question was penned down by Gregory Maxwell after the recent Scaling Bitcoin Workshop in Hong Kong, which took place in early December 2014. With so many new,....
BitPay, the largest bitcoin payment processor has sided with Gavin Andresen's court by showing its support towards incorporation of BIP 101. In other words, BitPay in one of their blog posts mentioned that the company supports the move to increase bitcoin block size from 1 MB to 8 MB (which is known as BIP 101). Bitcoin XT has been a topic of serious debate among the bitcoin community for a while now. The debate has ranged ever since Gavin Andresen, the Chief Scientist at Bitcoin Foundation and Mike Hearn proposed Bitcoin XT a few months ago. The Bitcoin XT proposal was later changed to....
Bitcoin Core developer Gavin Andresen in a recent e-mail has requested constructive feedback for his adaption of BIP-102 from the Bitcoin Community. Block size debate, who is not familiar with it? The arguments are slowly cooling down as most of the Bitcoin community is favoring Bitcoin Classic. Bitcoin Classic proposes an increase of block size from 1 MB to 2 MB to accommodate growing transactions on the Bitcoin network. Bitcoin Classic calls for a hard fork in the blockchain to introduce the change in block size. Recently in an email, Gavin Andresen has called for constructive feedback....
Since core developer Gavin Andresen announced his proposal to the Bitcoin community to increase the block size many have been in high debate. The question is when the March 2016 date arrives will consensus be met? With miners, exchanges, core developers and the community in such an uproar it’s hard to say. Bitcoin is an open source protocol. Its core....
Bitcoin developers have been debating whether or not to increase the allowable block size to 20MB, as the network is struggling with verifying transactions now that volumes are growing. At the moment, there is a limit of 1MB per block, which limits the number of transactions that the network can handle per second. According to lead bitcoin developer Gavin Andresen, the best solution might be to develop a code that would allow for a larger block size. His proposal features a bitcoin hard fork that would allow any block with a timestamp on or after March 1, 2016 to be up to 20 megabytes.....