Bitcoin Core Dev Jeff Garzik Sounds Off On Block Size Challenges, Offers His Insight
Jeff Garzik, a bitcoin code veteran, offered some insight into his purpose for launching Bloq a code-for-hire service to develop features for blockchain software and provide access to blockchain support. In a podcast interview on Bitcoin Uncensored co-hosted by Chris DeRose, a self-described bitcoin evangelist, Garzik offered his views on the current block size debate and bitcoin’s future. During the interview, Garzik voiced support for an inclusive approach to resolving the block size and scaling issues, but this inclusiveness has left the dialogue open to misunderstandings about bitcoin....
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Bitcoin Core Developer Jeff Garzik has introduced Bitcoin Improvement Proposal (BIP) 202, proposing that the Bitcoin community and miners take small and economically sound steps in increasing the maximum Bitcoin block size to 2 megabytes. Over the past few months, bitcoin core developers have proposed a number of BIPs including BIP 100 and 101, to increase the Bitcoin block size up to 8 megabytes. However, Bitcoin experts have criticized such proposals with concerns that it may "break" the Bitcoin code. "Bitcoin's block size limit needs to be increased in order to achieve wide Bitcoin....
Bitcoin core developer Jeff Garzik has proposed increasing bitcoin's block size limit to 2MB. Blocks - which are created every 10 minutes - currently hold only 1MB of transactions each. However, if the bitcoin network is to scale competitively it will need to exceed the three to seven transactions per second it currently supports. With the 1MB limit looking to be reached within the next few months, Garzik says his proposal, BIP 102, is an emergency 'fallback' if consensus among bitcoin's stakeholders is not reached.
Bitcoin Core developer Jeff Garzik has submitted a proposal to raise the block size limit from 1MB to 2MB. The proposal is intended to buy more time to reach a consensus on a more durable solution before the maximum amount of transactions on the Bitcoin network is reached. As the debate on a possible raise of the block size limit has been raging for months – years even – without consensus on a durable solution within sight, Garzik has proposed to adapt a temporary solution. This new Bitcoin Improvement Proposal (BIP), named BIP 102, holds that the Bitcoin block size limit be doubled on....
Jeff Garzik, a bitcoin code veteran who recently launched the Bloq code-for-hire service to develop blockchain features, continues to defend a hard fork solution to the bitcoin scaling challenge. Garzik has engaged with individuals who disagree with him on Twitter in the last few days. Everyone agrees the block size needs to expand if the bitcoin network is going to process a larger volume of transactions. But the solution has proven evasive. Garzik has voiced his dismay at the number of people who have proposed using technically inferior systems to increase the block size. Bitcoin Block....
Bitcoin core developer Jeff Garzik sent an email to Pieter Wuille on July 22 in which Garzik spoke against the implementation of a fee market and also said that Bitcoin’s block size “will be increase eventually,” so it would be best to do so without adding a “second period of chaos and disruption” with a change in fee structure. He said in the email: A month ago, Garzik submitted a bitcoin improvement proposal, or BIP 102, to increase the block size of bitcoin to 2MB until a consensus is made between core developers and those participating in the block size debate. In it, Garzik proposed....