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Topic: Time to roll out bigger blocks - page 2. (Read 1543 times)

sr. member
Activity: 266
Merit: 250
May 07, 2015, 11:40:52 PM
#4
When Bitcoin appeared in 2009, the capacity of each block of 10 minutes was 32mb which can be conversed to be 200tps, transactions per second. However, after that, the founder of Bitcoin Satoshi Nakamoto decreases the limitation to be 1 mb in order to prevent system to be attacked. From then on, the system of Bitcoin can deal with 7tps at most. By comparison with 1000tps of Alipay and 4000tps of VISA, it is little.
legendary
Activity: 3724
Merit: 3063
Leave no FUD unchallenged
May 07, 2015, 11:24:34 PM
#3
I'm assuming the text was just copy/pasta'd without using [quote] tags.  But yep, needs to happen soon, despite what the vocal minority claim.  The fallout from full blocks is negative publicity we don't need right now.  This forum would be inundated with posts whining about confirmation times if the limit isn't raised.

legendary
Activity: 1568
Merit: 1001
May 07, 2015, 10:55:48 PM
#2
Are you taking on a new persona these days or is Gavin giving up his account for something else? True story
sr. member
Activity: 266
Merit: 250
May 07, 2015, 10:52:41 PM
#1
I’m going to submit a pull request to the 0.11 release of Bitcoin Core that will allow miners to create blocks bigger than one megabyte, starting a little less than a year from now.

I will be writing a series of blog posts, each addressing one argument against raising the maximum block size, or against scheduling a raise right now. These are the objections I plan on writing about; please send me an email ([email protected]) if I am missing any arguments for why one megabyte is the best size for Bitcoin blocks over the next few years.


http://gavinandresen.ninja/time-to-roll-out-bigger-blocks
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