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> Blocks (Block size) and transaction fees will grow exponentially Currently, the blockchain is 405 GB and grows by about 5 GB per month. In your proposal, tha
by FabHK 4y ago
> Blocks (Block size) and transaction fees will grow exponentially
Currently, the blockchain is 405 GB and grows by about 5 GB per month. In your proposal, that will go up exponentially?
- intabli 4y agoMy proposal? I won’t take credit for Satoshi’s work, it was his proposal: https://satoshi.nakamotoinstitute.org/posts/bitcointalk/485/ https://satoshi.nakamotoinstitute.org/posts/bitcointalk/485/
- stickfigure 4y agoYou either misunderstood the parent or are being deliberately disingenuous. He/she asked, in effect: How do you plan to deal with the blockchain growing exponentially instead of linearly? And how much acceleration do you think is reasonable?
- intabli 4y agoI needed to clarify that it wasn’t my proposal, as to how to gradually approach this, test nets are already deployed on many of the uncapped networks, I believe you’ll enjoy this great presentation by Peter Rizun and Andrew Stone, they’re far smarter than I’ll ever be: https://youtu.be/5SJm2ep3X_M https://youtu.be/5SJm2ep3X_M
- FabHK 4y agoStrictly speaking it wasn't his, it was the originator of that thread, jgarzik, and satoshi replied "We can phase in a change later if we get closer to needing it.", which doesn't strike me as a ringing endorsement. At any rate, the suggestion was for one increase, not an infinite sequence of increases, which your suggested exponential growth amounts to.
- intabli 4y agoOne increase every time its theoretical limit is approached, which becomes exponential as transaction growth becomes exponential.
- imtringued 4y agoIf it doesn't, then Bitcoin is dead. It has no future.