Post
Topic
Board Development & Technical Discussion
Re: Will Bitcoin EVER have a bigger blocksize? Is there hope?
by
gildarts456
on 25/12/2019, 22:05:46 UTC
People still don't know bitcoin increased block size?

Size: 2.2 MB https://www.smartbit.com.au/block/540107

Now sitting at record high averages near ~1.2 MB https://bitcoinvisuals.com/chain-block-size

Limiting blocksize/time is a security feature above all else to address bandwidth and validation costs, with additional benefit that space scarcity drives fees that are meant to replace block reward eventually.

Block time change, by the way, would be a soft fork too (depends on definition).

Many exchanges finally batching as well which allows more throughput for others.

The next Schnorr, MAST, Taproot soft fork will reduce tx size as well allowing more throughput.

Various other current proposed BIP that can help deal with higher throughput:

Quote

Regardless, on-chain methods increase scaling linearly while off-chain offer orders of magnitude bigger scaling w/o compromising security of base layer. Even trust minimized solutions like rollups could technically be used as well, if not for bitcoin, then for token layers on embedded consensus and take them off chain.