Published on July 20th, 2015 | by bitcoin0
New Plan to Raise Blockchain Block Size to 2Mb
Jeff Garzik, one of bitcoin core developers and senior software engineer at Bitpay, has suggested that the limit on the block size should be raised to 2MB.
According to Garzik, the current block size limit of 1MB can cause a serious problem of undercapacity in the upcoming years.
With the ongoing growth of cryptocurrency usage, the number of transactions confirmed by the blockchain is escalating at a high rate.
Garzik’s plan, known as the 100th official Bitcoin Improvement Proposal or BIP100, proposes that the bitcoin block size limit should be ranging from above 1MB to 32MB.
Earlier this year, Andresen offered a plan to raise the block size to 20MB.