March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
Start your free trial
Block size increase
This is the most debated proposal for increasing blockchain performance (transaction processing throughput). Currently, Bitcoin can process only about three to seven transactions per second, which is a major inhibiting factor in adapting the Bitcoin blockchain for processing microtransactions. Block size in Bitcoin is hardcoded to be 1 MB, but if the block size is increased, it can hold more transactions and can result in faster confirmation time. There are several Bitcoin Improvement Proposals (BIPs) made in favor of block size increase. These include BIP 100, BIP 101, BIP 102, BIP 103, and BIP 109.
An excellent account of historic references and discussion is available at https://en.bitcoin.it/wiki/Block_size_limit_controversy ...