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Title: wot is Post by: lumleyunit on May 10, 2015, 07:06:20 PM a block size limit and why i keep hearing 20mb 1mb cap on blocks and all these hard and soft forks why wot dose it mean?
it enables more transfers in a single block? but then wot about the 10 minute creation time Title: Re: wot is Post by: DannyHamilton on May 10, 2015, 07:54:17 PM Here, let me clean that up for you so that others might actually understand what you're saying.
What is: a block size limit and why do I keep hearing 20mb or 1mb cap on blocks? All these hard and soft forks, why? What does it mean? Does it enable more transfers in a single block? What effect would such changes have on the 10 minute creation time? I assume that is what you meant? If so, here are your answers: Q. What is a block size limit? A. It is a limit on the size (in number of bytes) of each block in the blockchain. Q. Why do I keep hearing 20mb or 1mb cap on blocks? A. Blocks have been limited to a maximum of 1 megabyte in size for many years now. Since each transaction takes up some bytes in the block, the limits the total number of transaction that a block can hold. Since blocks only occur on average very 10 minutes, a limit on the size of a block limits the number of transactions per hour bitcoin can support. There has been some talk for over a year now about increasing the maximum size of a block. More recently Gavin Andresen has made some efforts towards incorporating future changes to the reference client to adjust the limit from 1 megabyte to 20 megabytes. This should allow 20X more transactions in a block, and therefore increase the overall maximum transaction rate of bitcoin 20X. Q. Does it enable more transfers in a single block? A. Yes. It increases the maximum number of transactions that a block can contain. Q. What effect would such changes have on the 10 minute creation time? A. None at all. |