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The Bitcoin "protocol" (for reasoning on the scare quotes search HN for me and that word) allows blocks to get up to 1 MB in size, currently. A block is mined
by patio11 11y ago
The Bitcoin "protocol" (for reasoning on the scare quotes search HN for me and that word) allows blocks to get up to 1 MB in size, currently. A block is mined once every ten minutes. The smallest transaction legal in the protocol is ~224 bytes. You can do the math from here.
There's a contentious proposal in the community right now to raise the block size and hence the implicit maximum TPS of the network. Why is that contentious? Oh boy, long story.
- TeMPOraL 11y agoI would be interested in hearing that story. Care to describe it, or point towards some reading material? :).
- nemild 11y agoStart here: http://davidsterry.com/blog/2015/06/arguments-in-the-bitcoin-block-size-debate/ http://davidsterry.com/blog/2015/06/arguments-in-the-bitcoin... Also: https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-1-macro-block-trends https://tradeblock.com/blog/bitcoin-network-capacity-analysi... https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-2-macro-transaction-trends https://tradeblock.com/blog/bitcoin-network-capacity-analysi... https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-3-miner-incentives https://tradeblock.com/blog/bitcoin-network-capacity-analysi... https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-4-simulating-practical-capacity https://tradeblock.com/blog/bitcoin-network-capacity-analysi... https://tradeblock.com/blog/bitcoin-network-capacity-analysis-part-5-stress-test-analysis https://tradeblock.com/blog/bitcoin-network-capacity-analysi... Hit me up if you need more reading.
- TeMPOraL 11y agoThanks for the links!