Re: [bitcoin-dev] BIP - Block size doubles at each reward halving with max block size of 32M

From: John Sacco <johnsock@gmail•com>
To: Chun Wang <1240902@gmail•com>
Cc: bitcoin-dev@lists•linuxfoundation.org
Subject: Re: [bitcoin-dev] BIP - Block size doubles at each reward halving with max block size of 32M
Date: Thu, 12 Nov 2015 22:37:34 -0500	[thread overview]
Message-ID: <CAEkt4Xsav9i2x26YhAPqr_b0on2SCkBCNwYv=Ym4v5HBLQzySA@mail.gmail.com> (raw)
In-Reply-To: <CAFzgq-xmXcEKN0_0e8de0UDOJEXuivbz986-dsSC5BCYLA2t1A@mail.gmail.com>

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I like your suggestion for the continuity and it gets us up to 2 MB in the
shorter term. Also I just noticed the math error.

Here is a revised spec (incorporating suggestions from Chun Wang):

Specification

* 1 MB, height < 210,000;
* 2 MB, height 210,000 < 420,000; (when 75% of last 1,000 blocks signal
support)
* 4 MB, height 420,000 < 630,000; (year 2016)
* 8 MB, height 630,000 < 840,000; (year ~2020)
* 16 MB, height 840,000 < 1,050,000; (year ~2024)
* 32 MB, height >= 1,050,000. (year ~2028)

On Thu, Nov 12, 2015 at 9:56 PM, Chun Wang <1240902@gmail•com> wrote:

> How about these specs:
> * 1 MB, height < 210000;
> * 2 MB, 210000 <= height < 420000;
> * 4 MB, 420000 <= height < 630000;
> * 8 MB, 630000 <= height < 840000;
> * 16 MB, 840000 <= height < 1050000;
> * 32 MB, height >= 1050000.
>
>
> On Fri, Nov 13, 2015 at 7:47 AM, John Sacco via bitcoin-dev
> <bitcoin-dev@lists•linuxfoundation.org> wrote:
> > Hi Devs,
> >
> >
> > Please consider the draft proposal below for peer review.
> >
> >
> > Thanks,
> >
> >
> > John
> >
> >
> > BIP
> >
> >   BIP: ?
> >
> >   Title: Block size doubles at each reward halving with max block size of
> > 32M
> >
> >   Author: John Sacco <johnsock@gmail•com>
> >
> >   Status: Draft
> >
> >   Type: Standards Track
> >
> >   Created: 2015-11-11
> >
> > Abstract
> >
> > Change max block size to 2MB at next block subsidy halving, and double
> the
> > block size at each subsidy halving until reaching 32MB.
> >
> > Copyright
> >
> > This proposal belongs in the public domain. Anyone can use this text for
> any
> > purpose with proper attribution to the author.
> >
> > Motivation
> >
> > 1.    Gradually restores block size to the default 32 MB setting
> originally
> > implemented by Satoshi.
> >
> > 2.    Initial increase to 2MB at block halving in July 2016 would have
> > minimal impact to existing nodes running on most hardware and networks.
> >
> > 3.    Long term solution that does not make enthusiastic assumptions
> > regarding future bandwidth and storage availability estimates.
> >
> > 4.    Maximum block size of 32MB allows peak usage of ~100 tx/sec by year
> > 2031.
> >
> > 5.    Exercise network upgrade procedure during subsidy reward halving, a
> > milestone event with the goal of increasing awareness among miners and
> node
> > operators.
> >
> > Specification
> >
> > 1.    Increase the maximum block size to 2MB when block 630,000 is
> reached
> > and 75% of the last 1,000 blocks have signaled support.
> >
> > 2.    Increase maximum block size to 4MB at block 840,000.
> >
> > 3.    Increase maximum block size to 8MB at block 1,050,000.
> >
> > 4.    Increase maximum block size to 16MB at block 1,260,000.
> >
> > 5.    Increase maximum block size to 32MB at block 1,470,000.
> >
> > Backward compatibility
> >
> > All older clients are not compatible with this change. The first block
> > larger than 1M will create a network partition excluding not-upgraded
> > network nodes and miners.
> >
> > Rationale
> >
> > While more comprehensive solutions are developed, an increase to the
> block
> > size is needed to continue network growth. A longer term solution is
> needed
> > to prevent complications associated with additional hard forks. It should
> > also increase at a gradual rate that retains and allows a large
> distribution
> > of full nodes.  Scheduling this hard fork to occur no earlier than the
> > subsidy halving in 2016 has the goal of simplifying the communication
> > outreach needed to achieve consensus, while also providing a buffer of
> time
> > to make necessary preparations.
> >
> >
> > _______________________________________________
> > bitcoin-dev mailing list
> > bitcoin-dev@lists•linuxfoundation.org
> > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> >
>

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