Modifying luke-jr’s hard fork proposal: (BIP-?) Safer and growing block size limit


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The original proposal: https://github.com/luke-jr/bips/blob/bip-blksize/bip-blksize.mediawiki

It's a 17.7% annual increase, with the following caveats:

  • It reduces the max blocksize below 1MB, if activated before 6/2024.
  • It increases the max blocksize above 1MB only after that date.

I propose the following changes

  • Keep max blocksize at 1MB until 1/2019
  • Start increasing the max blocksize after that date.

To illustrate what that would mean for bitcoin I made this chart.

  • The blue line shows the actual max. blocksize.

  • The red line shows the "effective blocksize" in terms of what it means for transaction capacity comparable to today's blocksize bytes, with the following assumptions:

    • SegWit get's activated in 1/2018 and increases efficiency by 110% (latest estimate I know, based on current usage data)
    • Schnorr signatures go live in 1/2019 and increase efficiency by another 40% (Eric Lombrozo's estimate)

I think any proposal based on /u/luke-jr's BIP is to be viewed as the new baseline, replacing the 1MB hardcoded limit, and not something that's necessarily set in stone for the next 40 years.

submitted by /u/supermari0
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