Gavin Andresen Proposes Bitcoin Hard Fork to Address Network Scalability
Bitcoin Foundation chief scientist Gavin Andresen has proposed increasing the number of transactions allowed on the bitcoin network by raising the maximum block size by 50% per year. Doing so would require a hard fork and "some risk", Andresen conceded in a new Bitcoin Foundation blog post, but he concluded that such proposals are necessary for the long-term viability of bitcoin as a global payments system. Entitled A Scalability Roadmap, the piece builds on Andresen's past statements regarding how he believes the bitcoin network can be scaled to handle more transactions. While the....
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Gavin Andresen proposes a roadmap for scaling Bitcoin. On October 6, Gavin Andresen, Chief Scientist at Bitcoin Foundation proposed a roadmap for overcoming challenges to scaling Bitcoin. Andresen suggests rolling out a hard fork that increases the maximum block size limit to enable Visa scale transaction volumes of about 3,000 transactions per second. The maximum block size is currently hardcoded at 1MB enabling 7 transactions per second, and if increased would have to be carefully chosen so that anybody with a reasonably fast computer and internet connection can run a full node else we....
Bitcoin Core developer Gavin Andresen today proposed a hard fork change for Bitcoin XT in order to allow for an increased block size limit on the Bitcoin network. So far, however, it has failed to appease most critics of his previous proposals to increase the block size limit. It is widely agreed that at some point an increase of the block size limit will be needed to allow the Bitcoin network to handle more than seven transactions per second. The Bitcoin Core development team, however, has so far not been able to reach consensus on the correct timing and strategy to accomplish this.....
Gavin Andresen recently added some new commits to Bitcoin Core on GitHub, thus continuing with his work on the original Bitcoin protocol. This work may raise some eyebrows, considering Core is a direct competitor with Bitcoin Classic on scalability, of which Andresen happens be to a lead developer. Gavin Andresen has been outspoken in his support for....
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....
Ah, now here is a meaty episode. Nearing the ripe age of 50, Gavin Andresen graces us with an appearance as an expert on Bitcoin. He has worked on the project in some way or other since 2010 and is still one of its best-known figures. So we are in good company. One of his first public podcast chats since publicly backing Craig Wright (we don't need to get into that, do we?), we ask him the hard hitting questions and get some answers! After all, it was Andresen who in October 2011 first floated the idea of a Bitcoin Foundation to lobby for cryptocurrency and promote the idea of a....