Blockstream’s Johnny Dilley: We’ll Eventually Have an Adaptive Block Size Solution
The Crypto Show recently interviewed Johnny Dilley, who runs strategy at Blockstream. Dilley shared his views on the future of Bitcoin’s block size limit, and explained why he’s not worried that a solution has yet to be chosen. Dilley’s calm demeanor in regard to the block size issue seems to be partially based on his excitement over various improvements....
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Chinese miners would not need to worry about explosive block size growth either, as the maximum rate of growth is capped at twice the previous size. There will be no jumps from 1MB blocks to 2MB blocks and then suddenly increasing to 8 MB. This should give the local Internet infrastructure enough time to ramp up the overall network speed and [try to] get rid of data caps. For those people looking to see the Bitcoin block size debate coming to an end, that will not be happening anytime soon, unfortunately. Things have gotten more interesting a few weeks ago when rumours....
Judging from various reports in the media over the past year, Bitcoin is in a serious crisis that threatens its very existence. Longtime Bitcoin developer Mike Hearn even left the ecosystem entirely and claimed the project is now a failed experiment. Of course, Bitcoin has been proclaimed dead roughly 100 other times. Scalability is the main concern in Bitcoin right now, but some, including Blockchain Capital Managing Director Brock Pierce, have argued that this is more a sign of success than anything else. The fact that the system needs to scale in order to welcome new users is a sign....
The debate to increase the bitcoin block size from its current 1MB has been going on for quite some time now. Those who are calling for a larger limit say that the current size of the network can no longer handle the transactions efficiently with such a small block size. Some say that it should be increased to 20MB while others think that 8MB would suffice. According to lead bitcoin developer Gavin Andresen, the best solution to the limited transactions of the bitcoin network is to increase the maximum block size. He even pointed out that if solution isn't implemented right away, the....
Altcoins have a long tradition in the Bitcoin community, but they tend to cause a contentious divide among those who think they’re useful and those who think they’re all scams. One side of the argument, articulated by the Satoshi Nakamoto Institute’s Daniel Krawisz, is that altcoins have no chance of success and distract possible users from Bitcoin, while the other side, articulated by many Ethereum supporters, believe platforms such as Bitcoin and Ethereum can work together. Johnny Dilley, who runs strategy at Blockstream, was recently asked for his thoughts on altcoins during an....
As much as most people would like to think otherwise, the Bitcoin block size debate is far from over. Various new proposals have been suggested in the past, and another interesting concept was posted on Reddit earlier today. According to this user, a small block size increase should be done first, followed by the integration of Segregated Witness. Addressing the key issue as soon as possible should be the top priority for all Bitcoin developers. Based on the findings of the Reddit in question, Segregated Witness should not be the first and foremost solution to settling the Bitcoin block....