Bitcoin Block Size Conflict Resolved: 8MB ‘Hardfork’ Expected

After acrimonious debate among the Bitcoin mining and developer community for the first half of 2015 over the block size increase, it appears a resolution has been reached. Using the latest BitcoinXT update, Gavin Andresen has started the process of increasing block chain block size from 1 MB to 8 MB.

This is deemed necessary for future Bitcoin growth, as the seven transactions per second are becoming insufficient for the global community as interest and demand slowly increase.

According to the updates revealed on GitHub, this is what is planned through for the upcoming “hard fork”:

Implement hard fork to allow bigger blocks.  Unit test and code for a bigger block hard fork.

Parameters are:

  •     8MB cap
  •     Doubling every two years (so 16MB in 2018)
  •     For twenty years
  •     Earliest possible chain fork: 11 Jan 2016
  •     After miner supermajority (code in the next patch)
  •     And grace period once miner supermajority achieved (code in next patch)

The block size debate has been rampant about the need to upgrade the block size to as much as 20 MB, as was covered by Coin Telegraph recently.

The major global Bitcoin mining interests in China at first came out against any block size changes, noting the added costs and complexities involved with mostly empty blocks. Upon further review, they decided an increase to 8 MB was warranted, countering the 20 MB requests by Core Developers Mike Hearn and Gavin Andresen.

Core Developers Mike Hearn and Gavin Andresen

It appears the agreed upon size is 8 MB, set to begin next year.

CoinTelegraph has attempted to contact Hearn and Andresen for more information and will provide updated information as it becomes available. It seems some details are still to be sorted out in the next coding batch within the coming days.

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