Block size and future of Bitcoin - Bitcoin Forex Loans Insurance Busines

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Sunday, October 1, 2017

Block size and future of Bitcoin

Bitcoin engineers Core: sorry, but fears that a larger block will break the system without foundation. They are doing what Donald Knuth told them not to do: optimize prematurely. We have no hard data to suggest that a block of 2MB could be an important block the spread or decentralization problem. If you are right and larger blocks do require more optimization, optimize and solve the problems that arise once we have seen the real bottleneck . From my own experience in the construction of HTTP / 2.0, there is one certain thing regarding optimizations: you never know what to optimize until you test it.
The data show that more than 90% of the community supports a block of at least 2 MB. If 90% is not enough for the "consensus", then I do not know what they talk about. For my work in standardization bodies, I know the rules always require some degree of appeasement. If you can not accept this, then the community will have to go ahead without you .

Both Segregated Witness (the proposal to reduce the amount of data included in a block) as Lightning Network are great technical ideas for the future. I like them very much. However, neither will be ready in the next 6-18 months. Lightning, the bet is even riskier There 's a real possibility that not work at all-. Also, if you think a greater degree of decentralization is difficult to achieve in Bitcoin as it exists now, think how difficult it will bring the problem to a mounted layer on Bitcoin We 'd be just pushing the problem to other entities with software untested -. Unfortunately, we need a solution for the block size now. Prevent the growth of Bitcoin to favor these experimental technologies is a big mistake .

Just we do not have time for this. A payment system that can only handle 300,000 transactions per day is not worth my time or anyone else. I doubt that Elon Musk, Larry Page, Steve Jobs or Warren Buffet were to waste time with such a tiny and unfortunate system.

If we change the world, we must think big . We must take the largest world trading system and multiply by a factor of 1000 -in that we have to be concentrated. We do not have to waste time with proposals that have the potential to change the world. You want change? Do it now. Otherwise, the true leaders of the next generation will get rid of your product and create something that can change the world itself .