Bitcoin-BLAKE2b will launch with the block size reduced to 300 KB. The change will automatically expire after one year, just like the other RDTS (BIP-110) changes.
This will provide a good opportunity to trial the effects of smaller blocks. If it works as intended, the reduction could be extended for longer periods, potentially resulting in a smaller blockchain, faster and more accessible IBD, and better incentives for more people to run their own nodes on much cheaper hardware.
If it doesn’t work as intended, the automatic expiry will restore the block size to up to 4 vMB under the SegWit standard, and we will still have learned a valuable lesson.
It’s also worth noting that this was not an arbitrary decision made by Luke or the other two developers working on the hard-fork client. It was put to a community vote and received overwhelming support.
This will provide a good opportunity to trial the effects of smaller blocks. If it works as intended, the reduction could be extended for longer periods, potentially resulting in a smaller blockchain, faster and more accessible IBD, and better incentives for more people to run their own nodes on much cheaper hardware.
If it doesn’t work as intended, the automatic expiry will restore the block size to up to 4 vMB under the SegWit standard, and we will still have learned a valuable lesson.
It’s also worth noting that this was not an arbitrary decision made by Luke or the other two developers working on the hard-fork client. It was put to a community vote and received overwhelming support.
308❤️9⚡1❤️1🤙1🫂1
