BIP 0102

From Bitcoin.com Wiki
Jump to: navigation, search
  BIP: 102
  Title: Block size increase to 2MB
  Author: Jeff Garzik <jgarzik@gmail.com>
  Status: Draft
  Type: Standards Track
  Created: 2015-06-23

Abstract

Increase total amount of transaction data permitted in a block from 1MB to 2MB on November 11, 2015.

Motivation

  1. Enable network growth.
  2. Continue current economic policy of low fee pressure on average.
  3. Exercise network upgrade procedure.

Specification

  1. Maximum block size permitted to be valid is 1MB.
  2. Increase this maximum to 2MB on November 11, 2015 at 00:00:00 UTC.
  3. Increase maximum block sigops by similar factor, preserving SIZE/50 formula.

Backward compatibility

Older clients are not compatible with this change. The first block exceeding 1,000,000 bytes will partition older clients off the new network.

Discussion

In the short term, an increase is needed to continue to facilitate network growth, and buy time for more comprehensive solutions to be developed. This continues the current economic policies with regards to fees, matching market expectations and preventing market disruption.

In the long term, continued direct management of this limit is a moral hazard that clouds free market input and prevents a healthy fee market from developing. This area of code should be transitioned away from direct management.

Implementation

https://github.com/jgarzik/bitcoin/tree/2015_2mb_blocksize