4 ms·
> - There is an immediate scaling problem: The mean and median blocksize is converging on the max blocksize of 1MB, and transactions waiting to get into the blo
by knocte 9y ago
> - There is an immediate scaling problem: The mean and median blocksize is converging on the max blocksize of 1MB, and transactions waiting to get into the block blow out on a daily basis to 20MB. This backlog of waiting transactions causes users to pay high fees to get their transaction to the front of the queue, and causes delays in processing/confirmation times.
Refuted: https://twitter.com/aantonop/status/885840778630541312 https://twitter.com/aantonop/status/885840778630541312
> Given the voracity of the debate, SegWit2X is a practical compromise we should adopt to move forward
Agreed.
> because the growth of transaction volumes will likely be exponential for the next decade.
Maybe the answer to this is extreme-pruning blockchains, e.g. MimbleWimble.
> some people think the blocksize is a fundamental part of the genius breakthrough in technology that is the blockchain, and so cannot be tinkered with. This is wrong
I don't think they claim that blocksize is directly fundamental, what they might say is that decentralization is fundamental, and blocksize changes could undermine it.
- knocte 9y ago> Refuted: https://twitter.com/aantonop/status/885840778630541312 https://twitter.com/aantonop/status/885840778630541312 Possibly more digestible/readable sources: https://news.bitcoin.com/bitcoin-network-spam-attack-one-users-white-whale/ https://news.bitcoin.com/bitcoin-network-spam-attack-one-use... , https://bravenewcoin.com/news/bitcoin-spam-attack-stressed-network-for-at-least-18-months-claims-software-developer/ https://bravenewcoin.com/news/bitcoin-spam-attack-stressed-n...