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But SegWit is a block size increase. It allows twice as many on-chain transactions by making the blocks twice as big. This "SegWit vs block-size increase" talk

by nadaviv 10y ago

But SegWit is a block size increase. It allows twice as many on-chain transactions by making the blocks twice as big. This "SegWit vs block-size increase" talk makes no sense to me. https://segwit.org/is-segwit-a-block-size-increase-705df6a8731d https://segwit.org/is-segwit-a-block-size-increase-705df6a87...

colordrops 10y ago
The block size increase with segwit is marginal and a side effect. It's a complicated feature that is meant for purposes other than block size increase. Don't obfuscate the issue. I'm talking about a simple tweaking of a parameter to increase block size.
- nadaviv 10y ago
  > The block size increase with segwit is marginal It's not marginal. According to the mix of current transactions on the bitcoin network, SegWit gives us an effective block size of 2.1MB. Over 2 times more transactions compared to today, which is more than what Bitcoin Classic was pushing for until not too long ago. https://www.weusecoins.com/eli-segwit/ https://www.weusecoins.com/eli-segwit/ https://segwit.org/is-segwit-a-block-size-increase-705df6a8731d https://segwit.org/is-segwit-a-block-size-increase-705df6a87... > and a side effect. Indeed it is! The main goal of SegWit is fixing the malleability problem, everything else is an bonus. The other bonuses are pretty awesome themselves, too: https://bitcoincore.org/en/2016/01/26/segwit-benefits/ https://bitcoincore.org/en/2016/01/26/segwit-benefits/ > I'm talking about a simple tweaking of a parameter to increase block size. A "simple" block-size increase requires an hard-fork, which is anything but simple. Hardforks requires a network-wide coordinated upgrade where everyone updates on the same time, at the risk of a currency split and old nodes being open to attacks if not everyone upgrades in time. Hardforks are highly risky and very very slow to deploy safely. I recently presented some slides on this topic, the relevant part starts here: https://www.docdroid.net/TouvFPl/embassy-future-politics-feb2017.pdf.html#page=3 https://www.docdroid.net/TouvFPl/embassy-future-politics-feb... The same slides, shown as a summary image: https://twitter.com/TraceMayer/status/829558034351398916 https://twitter.com/TraceMayer/status/829558034351398916

by nadaviv 10y ago

colordrops 10y ago

The block size increase with segwit is marginal and a side effect. It's a complicated feature that is meant for purposes other than block size increase. Don't obfuscate the issue. I'm talking about a simple tweaking of a parameter to increase block size.

nadaviv 10y ago
> The block size increase with segwit is marginal It's not marginal. According to the mix of current transactions on the bitcoin network, SegWit gives us an effective block size of 2.1MB. Over 2 times more transactions compared to today, which is more than what Bitcoin Classic was pushing for until not too long ago. https://www.weusecoins.com/eli-segwit/ https://www.weusecoins.com/eli-segwit/ https://segwit.org/is-segwit-a-block-size-increase-705df6a8731d https://segwit.org/is-segwit-a-block-size-increase-705df6a87... > and a side effect. Indeed it is! The main goal of SegWit is fixing the malleability problem, everything else is an bonus. The other bonuses are pretty awesome themselves, too: https://bitcoincore.org/en/2016/01/26/segwit-benefits/ https://bitcoincore.org/en/2016/01/26/segwit-benefits/ > I'm talking about a simple tweaking of a parameter to increase block size. A "simple" block-size increase requires an hard-fork, which is anything but simple. Hardforks requires a network-wide coordinated upgrade where everyone updates on the same time, at the risk of a currency split and old nodes being open to attacks if not everyone upgrades in time. Hardforks are highly risky and very very slow to deploy safely. I recently presented some slides on this topic, the relevant part starts here: https://www.docdroid.net/TouvFPl/embassy-future-politics-feb2017.pdf.html#page=3 https://www.docdroid.net/TouvFPl/embassy-future-politics-feb... The same slides, shown as a summary image: https://twitter.com/TraceMayer/status/829558034351398916 https://twitter.com/TraceMayer/status/829558034351398916