29 votes
Accepted

Is SegWit a blocksize increase or more efficient use of blockspace?

Yes and no. It depends on how you frame the question. It is a block size increase, because you can fit a larger number of useful transactions into a block. If you want to make a useful Bitcoin ...
Nick ODell's user avatar
  • 29.4k
15 votes
Accepted

Will the size of a Bitcoin Core full node be too big to run on a normal computer?

Bitcoin has to maintain some balance to be able to retain the ability to be decentralized. As you've correctly established, this is partly down to making sure that the resource requirements of fully ...
Claris's user avatar
  • 15.4k
13 votes
Accepted

What is the Lightning Network proposal? What problem is it trying to solve?

Two issues with Bitcoin's design Scalability of "everyone checks everything" Bitcoin is a gossip network: P2P nodes connect mostly randomly to each other and pass-on new information to each ...
Murch's user avatar
  • 75.3k
11 votes
Accepted

How many more transactions per second will be possible with SegWit?

Best estimates on effective blocksize with SegWit are 1.6-2.0 MB. Current transactions/second possible are around 3 tx/s. Given that the effective increase is 1.6 - 2.0x, the transactions/second are ...
Jimmy Song's user avatar
  • 7,759
8 votes

Why would increasing the Bitcoin block size lead to a more centralised system?

The problem arises from the uneven propagation of information in the network. While the propagation of small blocks is fast, i.e., every miner gets to know a new block approximately at the same time, ...
cdecker's user avatar
  • 9,508
8 votes
Accepted

What is the difference between on-chain scaling and off-chain scaling?

Note, I use scaling, capacity, and scalability as follows: Scaling: Growing the network's utility in any fashion. Capacity: The number of payments that can be processed on the network. Scalability: ...
Murch's user avatar
  • 75.3k
8 votes

Why is there a block size limit and why not increasing it?

A block size limit is necessary to avoid a trivial DOS vector. See this answer for some explanations. But from the body of your question it rather seems you are asking why the limit isn't increased. ...
Antoine Poinsot's user avatar
6 votes
Accepted

What is "Emergent Consensus" as a Mining Pool Support proposal?

Emergent consensus Emergent consensus is a protocol upgrade proposal championed by the Bitcoin Unlimited developers. The idea is for each node to broadcast its acceptable block size and to thusly ...
Murch's user avatar
  • 75.3k
6 votes
Accepted

Why not decrease the difficulty to increase capacity?

One problem is that lower block times mean an increased chance of forking, which makes head of the chain, and the system, less reliable. Another problem is that it normally takes a block a few ...
Steve Ellis's user avatar
  • 1,062
6 votes
Accepted

Is the block size limit miners'-only thing, or should users participate?

Ultimately, the consensus rules are set by (the consensus of) those running full nodes, and not by miners. If all Bitcoin node operators decided to switch to different rules for whatever reason, ...
Pieter Wuille's user avatar
5 votes

Cryptocurrency with small block size limit or large block time

I am not aware of any cryptocurrency that has block times of greater than 10 minutes, but I am very familiar with the desire to limit growth of the block chain. Monero recently increased its block ...
studycrypto's user avatar
4 votes

How thoroughly has Segregated Witness been tested?

I'd suggest starting here: https://bitcoincore.org/en/2015/12/23/capacity-increases-faq/. There's also a SegWit adoption page on the site somewhere. Finally, this article has some details on recent ...
Нонн Болдырев's user avatar
4 votes
Accepted

Does any current SegWit or blocksize increase proposal also seek an increase in the OP_RETURN byte limit?

Currently, there are no BIPS (Bitcoin Improvement Proposals) that seek to increase the 80 byte limit as you can see here. Doing a cursory search on that repository, you can see that only a few ...
Jimmy Song's user avatar
  • 7,759
4 votes
Accepted

Does Bitcoin Cash validate the fears about larger block sizes?

So have all the fears of larger block sizes come to bass with Bitcoin Cash? I think most BTC proponents would say no, the fears have not passed. It is not a black/white situation in which a ...
chytrik's user avatar
  • 18.3k
4 votes

Why is there a block size limit and why not increasing it?

Because throughout 2012-2015, after Satoshi Nakamoto disappeared, "no hard-forking upgrades" became a de facto social rule of the Bitcoin network (BTC) so old non-upgraded nodes won't become ...
bca-0353f40e's user avatar
  • 1,025
3 votes

Why would I trust a cryptocurrency that allow only 3 transactions/s?

You are equating the value of a currency with the performance of just one way to exchange that currency. There are poor ways to exchange dollars as well. Also, I'm not sure what you mean by "invest ...
David Schwartz's user avatar
3 votes

Why not multiply "six confirmations" and divide Time-Between-Blocks and Reward by the same factor?

In consideration of replacing the 1 block with N blocks in the same time frame, N > 1, I see the following points: Advantages Expected time until first confirmation is reduced Mining revenue is ...
Murch's user avatar
  • 75.3k
3 votes
Accepted

Why OP_RETURN should be used instead of raw data?

There are two reasons why you should prefer a scriptPubKey of OP_RETURN <data> over <data>. The first reason is that the non-OP_RETURN output is not prunable, and is actually anyone-can-...
Nick ODell's user avatar
  • 29.4k
3 votes
Accepted

Reduce bitcoin blockchain size

Yes this problem has been solved. Have a look at the pruning option. You can specify whatever maximum size you want to allow the blockchain to take up.
Jannes's user avatar
  • 6,344
3 votes
Accepted

What is the status of the "Hong Kong Agreement"

The full code for Segregated Witness was released on 19th of April, which to the letter fulfills the requirement. However, apparently some people had understood the first point to mean that it would ...
Murch's user avatar
  • 75.3k
3 votes
Accepted

How thoroughly has Segregated Witness been tested?

Summarized from Bitcoin Core's Segregated Witness announcement: The original version of SegWit was implemented in April through June 2015 for the Elements Project. It has facilitated every ...
Murch's user avatar
  • 75.3k
3 votes

There's talk of increasing the blocksize - if this can be achieved - does this mean that the 21m btc limit can also be changed?

Flat-out increasing the blocksize is a hardfork. Hardforks require the overwhelming support of all parts of the Bitcoin sphere to be adopted, otherwise they will create a forkcoin. 51% would be ...
Murch's user avatar
  • 75.3k
3 votes
Accepted

Blockchain sizes, and external devices

This is an interesting question from a blockchain perspective. Will the transaction block data ever outstrip the ability to store it ? Or at least put it beyond all but the largest corporation's ...
dbkeys's user avatar
  • 636
3 votes

block verification cost

It is not enough to check the merkle tree, as this says absolutely nothing about the validity of the contents of the block, just that somebody was able to follow the protocol up until that point. If a ...
Claris's user avatar
  • 15.4k
3 votes
Accepted

What is the optimal block size based on 90 percentile block propagation delay?

I think block propagation delay is the only limiting factor in increasing block size. This assumption is not accurate. While block propagation time is an important parameter for fair competition ...
Murch's user avatar
  • 75.3k
3 votes

Incoming transaction has been marked as pending since 2013. How can I retrieve it?

Just to clarify how Bitcoin works: How can I retrieve it? You don't ever really retrieve Bitcoin money, it is always kept track of in the list of transactions that almost every Bitcoin user has ...
RedGrittyBrick's user avatar
2 votes

Does the node count reflect the mining power support of different Bitcoin versions?

No, nodes and miners are separate entities performing different functions in the network. The miners create the blockchain, which requires specialized hardware that performs hashing. The hardware is ...
Murch's user avatar
  • 75.3k
2 votes

Why do bigger blocks make it more expensive to run a full node?

Short answer: For big players the cost is mostly negligible. Longer answer (independent of the current block size debate): Hard Drive Cost: A bigger block will take up more disk space. Right now the ...
boris's user avatar
  • 56
2 votes

Blocks, scaling and segwit question

You are correct that changing either block size or block frequency would successfully allow more transactions to be confirmed per unit time. However, changing the block frequency means changing the ...
Nate Eldredge's user avatar
2 votes
Accepted

Will 2mb blocksize mean double as many transactions?

A block begins with a header of 80 bytes, and everything else is used for transactions. So if you increase the maximum block size from 1000000 to 2000000 bytes, the space available for transactions ...
Nate Eldredge's user avatar

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