Will Scaling Bitcoin Bring Us to Consensus on the Block Size Debate?
"There's a deep rift amongst bitcoin core devs regarding what the purpose of Bitcoin should be," said Eric Lombrozo, Bitcoin developer and CEO of Ciphrex. "Unfortunately, the fundamental underlying disagreements aren't being properly addressed ... and most of the discussion has instead focused on the differing conclusions rather than on the real causes....
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During the Scaling Bitcoin workshop held in Montreal a few weeks back, some suggestions to increase the block size limit from the current 1MB to 2-4MB were raised. Participants seemed to focus on Adam Back's 2-4-8 block size increase proposal, although notable developers appeared to support a smaller short-term bump in limits. Some discussions on the bitcoin-dev mailing list apparently revealed that some core developers are interested in a short-term fix. Scaling Bitcoin and Block Size Debate. Prior to this workshop, bitcoin developers and members of the community have been debating on....
The block size debate has been going on for quite some time now, prompting developers Andresen and Hearn to create a new version of the bitcoin software and force the network to a hard fork. The hope is that the system can make the decision itself based on consensus, which is typically how the network functions anyway. However, developers suggest another option, which is to scale bitcoin. Sidechains have also been discussed as a potential workaround to the issue of increasing the block size from 1MB to 8MB, possibly allowing the network to handle more transactions and verify those in a....
Bitcoin Core developers and leading mining firms have come to a consensus on the block size debate. On February 21, 2016, representatives of the Bitcoin industry and Bitcoin Core developers have finally come to a consensus to settle the never-ending block size debate. The meeting was participated by Bitcoin Core developers and representatives of leading bitcoin mining firms and exchanges including Antpool, BitFury, Bitmain, Bit-X, Blockcloud, BTCC, BW, Coinfloor F2Pool, Genesis Mining, HaoBTC, Huobi, Ledger, OKCoin and Spoodoolies-Tech. All representatives of the abovementioned companies....
The current Bitcoin blockchain block size debate has been very contentious. When Gavin Andresen and Mike Hearn released BIP101/XT last week, they emphasized the need for an increase to the Bitcoin block size to address concerns of transaction scaling as adoption increases. Instead, it has touched off a war in the Bitcoin community, dev teams, miners and mining pools. The latest news on the debate is the fact that BIP100 has been adopted by F2Pool, BitClubPool, and Kano.is with some other smaller pools joining. This movement represents a resounding 25% + of the network hash rate, with....
Bitcoin does not need to scale. While Satoshi Nakamoto might have arbitrarily designed a 1MB block size into the Bitcoin protocol with little explanation, many industry people forget that, just because that amount was arbitrary, does not mean the protocol must scale now or ever. The people who feel this way – in what essentially represents a conservative approach to the debate – have been shunned completely in the discussion known as the Bitcoin block size debate. Not scaling is not an option. This is a great error as it obfuscates the real debate at hand. The reality is many Bitcoiners....