I was reading that BitcoinXT is created to increase the blocksize to accommodate increasing transaction volume, but bitcoin core developers were against to it as it make the currency more centralized. But what is bitcoin core developers solution to the increasing transaction volume?

1 Answer 1

  • BIP 100: Jeff Garzik Miners vote on blocksize, constrained between 1 and 32 MB.
  • BIP 101: Gavin Andresen Blocksize increases to 8 MB, and doubles every two years after that. (This is what XT implements.)
  • BIP 102: Jeff Garzik Blocksize increase to 2 MB. (Intended as a fallback that everyone can agree on.)
  • BIP 103: Pieter Wuille Blocksize increase by 17.7% each year, consistent with current technological growth.
  • BIP 105: BtcDrak Each block increases or decreases blocksize by up to 10%. The change stacks multiplicatively. Voting to increase blocksize requires more proof-of-work, but not voting to decrease. The result is constrained between 1 MB and 8 MB.
  • BIP 106: Upal Chakraborty If more than half of last 2016 blocks are 90% full, double block size. If more than 90% are less than 50% full, halve block size.
  • It's a feature, not a bug: Almost-full blocks will encourage people to raise their fees, increasing the reward for miners, and thus increasing the amount of hashpower applied to Bitcoin.

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