With the current one-megabyte-per-block limit, the Bitcoin network can process only a few transactions per second, which could strongly limit the ability of the network to handle high transaction volumes if the adoption of bitcoin payments grows. Lead Bitcoin developer Gavin Andresen is persuaded that the best solution to the problem is to increase the maximum block size, and has developed code for a proposed Bitcoin hard fork that would allow any block with a timestamp on or after March 1, 2016 to be up to 20 megabytes. “I believe this is the simplest possible set of changes that will work,” Andresen says. In a post titled “Why increasing the max block size is urgent,” he argues that if the […]
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