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> TLDR/non-crypto summary: Bitcoin's developers made changes recently that allow much larger transactions, with blocks up to 4MB in size on the Bitcoin blockcha
by drexlspivey 3y ago
> TLDR/non-crypto summary: Bitcoin's developers made changes recently that allow much larger transactions, with blocks up to 4MB in size on the Bitcoin blockchain in support of "BRC-20" tokens, which is Bitcoin's feature reduced version of Ethereum's ERC-20 token.
This is completely false. 4MB blocks are possible since segwit in 2017 and BRC-20 has nothing to do with bitcoin, it’s just some third party protocol that assigns meaning to random data stored in the blockchain.
You can append random crap to your transaction and store it in the blockchain if you pay the fee, nothing has changed. The limit is still 4MB every 10 minutes.
- willmadden 3y agoWhat about my reply is false? Ordinal inscription transactions are huge and stored on-chain. This caused the backlog.
- deleted 3y ago[deleted]
- 3np 3y ago2017 is hardly "recently" in bitcoin terms. It's also easy to interpret your comments as implying BRC-20 was a motivating factor for 4MB blocks, which as others pointed out would be nonsense. nullc breaks it down here: https://news.ycombinator.com/item?id=36119707 https://news.ycombinator.com/item?id=36119707