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October 11, 2018, 05:34:10 AM |
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As we all know ,that a block is added when a transaction takes place. The block size increases, understandably, as the history of the blocks increases. Though initially the bitcoin block were handcapped at 1Mb,but there could be many transactions that could be made on a coin,so it was far less.Bitcoin has increased its cap per-block,but this leads to another problem and that is with the increase of blocksize,the processing speed for any transaction will also increase.So whats the solution for all this?
Hardfork is done to make all the changes acceptable in any block chain ,making the previous invalid blocks valid.Most of the miners do it so that they could spin it into their own version of that blockchain and those versions are all mostly equipped with SegWit.What SegWit does is to increase the block size limit to 4Mb, resulting a single block to hold the records if more than 8k.But the problem presents itself again as the limit exceeds again.
What is your take on all of this?
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