Bitcoin Core Developer Commits to 20MB Block Size by March, 2016

[tungfa]

Bitcoin Core Developer Commits to 20MB Block Size by March, 2016

https://www.cryptocoinsnews.com/bitcoin-core-developer-commits-20mb-block-size-march-2016/

 

[kingcolex]

Good for bitcoin, now if they can just not fight over it and allow it they will get some progress done.

 

[thelonecrouton]

Crikey, that might get them 100 transactions per second! For the entire world! They are storming into the 20th century for sure. :tongue:

 

[chatterbox]

What is Dash limited to at the moment? I know the block times are different so that has an a effect too. Is it possible that we may need to increase our block size?

Sidenote: I suppose with enough time anything is possible, so that might have been a stupid question. Within the next few years could we expect to need to increase size?

 

[Super8]

Cointelegraph.com are reporting the following quote from Bitcoin core developer Gavin Andreson's blog...

'“If the number of transactions waiting gets large enough, the end result will be an over-saturated network, busy doing nothing productive. I don’t think that is likely– it is more likely people just stop using Bitcoin because transaction confirmation becomes increasingly unreliable.”

Then maybe people should start using Dash instead, huh Gavin?

;-)

 

[UdjinM6]

What is Dash limited to at the moment? I know the block times are different so that has an a effect too. Is it possible that we may need to increase our block size?

Sidenote: I suppose with enough time anything is possible, so that might have been a stupid question. Within the next few years could we expect to need to increase size?

We have the same block size limit as Bitcoin has https://github.com/dashpay/dash/blob/master/src/main.h#L45-L46 but:
- we have 2.5 minutes block time comparing to 10 minutes in Bitcoin i.e. 4x more blocks at the same period of time;
- we have DS mixing txes i.e. we need more space to store them.

And final result depends on a balance of these two. For example right now we have ~50% of LTC tx per day rate https://bitinfocharts.com/comparison/transactions-ltc-dash.html#6m and almost the same block size https://bitinfocharts.com/comparison/size-ltc-dash.html#6m. If we take this as a reference we could have ~twice the capacity of Bitcoin.

On another note we are nowhere near Bitcoin tx per day rate https://bitinfocharts.com/comparison/transactions-btc-ltc-dash.html and average block size https://bitinfocharts.com/comparison/size-btc-ltc-dash.html so nothing to worry about right now.

 

[thelonecrouton]

I have solved this problem (in theory :tongue with subsetted pure PoService... PoW is and always will be a crap non-scalable non-solution.

"But it cost me $$$ burning a gazillion jiggawatts to generate these 1's and 0's! It gives value to the coin!"

If only anyone cared, eh?

 

[tungfa]

Ultimate blockchain compression w/ trust-free lite nodes
https://bitcointalk.org/index.php?topic=88208.0

Scalability, Part 1: Building on Top - Ethereum Blog
https://blog.ethereum.org/2014/09/17/scalability-part-1-building-top/

 

[chatterbox]

I have solved this problem (in theory :tongue with subsetted pure PoService... PoW is and always will be a crap non-scalable non-solution.

"But it cost me $$$ burning a gazillion jiggawatts to generate these 1's and 0's! It gives value to the coin!"

If only anyone cared, eh?

I don't think a pure PoS coin can compete. There's less at stake for the market to continue to stay fluid. Reddcoin did that whole PoS-Velocity thing and look how that worked for them.

 

[David]

I don't think a pure PoS coin can compete. There's less at stake for the market to continue to stay fluid. Reddcoin did that whole PoS-Velocity thing and look how that worked for them.

PoSe, not PoS. I agree that just having coins sit there does nothing for the network but running an mn or having an mn share does

 

[thelonecrouton]

I don't think a pure PoS coin can compete. There's less at stake for the market to continue to stay fluid.

I'm not sure what you meant exactly by that, but the market currently barely qualifies as pocket change for a single large corporation. And that's where it will stay for BTC. DASH's overlay network allows for much faster and more useful services, with vastly greater tx capacity, but not if it remains shackled to toytown PoW.

Someone needs to get a viable global currency going before the banks introduce their own blockchain based solution.

BTC is a dead duck waddling.