From: Washington Sanchez <washington.sanchez@gmail•com>
To: bitcoin-dev@lists•linuxfoundation.org
Subject: [bitcoin-dev] Dynamic limit to the block size - BIP draft discussion
Date: Tue, 8 Sep 2015 17:45:16 +1000 [thread overview]
Message-ID: <CAG0bcYzzg4yeQvd27PZu5Fqv1ULS3cKeQHaRZ2zPcM3OASw1cg@mail.gmail.com> (raw)
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Hi everyone,
I know many of us feel that the last thing the Bitcoin community needs is
another BIP related to the block size, but after a lot of reading and
commenting, I'd like to throw this idea out there.
I've already written it up as a BIP and would like some constructive
feedback/suggestions/alternatives related to some of the variables in my
specification:
Dynamic limit to the block size
=======================
The goal is to dynamically increase the maximum block size conservatively,
but allow meaningful relief to transaction volume pressure in response to
true market demand. The specification follows:
- Every 4032 blocks (~4 weeks), the maximum block size will be increased by
10% *IF* a minimum of 2000 blocks has a size >= 60% of the maximum block
size at that time
+ This calculates to theoretically 13 increases per year
- The maximum block size can only ever be increased, not decreased
For example, if this rule were to be instituted January 1st 2016, with a
present maximum block size 1 MB, the limit would be increased to 1.1 MB on
January 29th 2016. The theoretical maximum block size at the end of 2016
would be ~3.45 MB, assuming all 13 increases are triggered.
As the maximum block size rises, so the cost of artificially triggering an
increase in the maximum block size.
Regards,
Wash
-------------------------------------------
*Dr Washington Y. Sanchez <http://onename.com/drwasho>*
Co-founder, OB1 <http://ob1.io>
Core developer of OpenBazaar <https://openbazaar.org>
@drwasho <https://twitter.com/drwasho>
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next reply other threads:[~2015-09-08 7:45 UTC|newest]
Thread overview: 12+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-09-08 7:45 Washington Sanchez [this message]
2015-09-08 8:49 ` Btc Drak
2015-09-08 12:28 ` Ivan Brightly
2015-09-08 13:13 ` Adam Back
2015-09-08 13:52 ` Ivan Brightly
2015-09-08 14:02 ` Washington Sanchez
2015-09-08 14:18 ` Adam Back
2015-09-08 15:10 ` Washington Sanchez
2015-09-08 16:46 ` Andrew Johnson
2015-09-08 17:04 ` Gavin Andresen
2015-09-08 23:11 ` Washington Sanchez
2015-09-09 13:10 ` Washington Sanchez
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