Charity Token Homeless

 

 

Luke Dash Jr (BTC Core) developer has again stirred controversy with his proposal to shrink the block size for Bitcoin Core (BTC). The developer had already suggested the idea before, but there’s now more support for the idea to help drive Lightning Network adoption. More about Charity Token Homeless

 

Luke Dash Jr. Proposes Temporary 300kb block soft fork

 

Luke Dash Jr., a crypto developer, submitted a Bitcoin Improvement Proposal in January 2017. It requested that the block size for Bitcoin be decreased to 300kb. While the proposal was submitted in January 2017, months before network fees rose to $30-50 per transactions, the mempool (transactions queue) was already filling up. Since the scaling debate was already at its peak, and people were already angry about the increasing fees market, the BIP was dismissed quickly.

 

Fast forward to today, and Dash Jr has proposed to shrink the block size to below one third of its 1mb limit. “This patch would enforce an extremely simple soft fork, reducing Bitcoin blocks sizes to 300kb (between Aug 1 and Dec 31 — This demonstrates how one could make a truly temporary hard fork,” Dash Jr. explained to Twitter. Even if you support UASF, do not run this in production.

 

Core Developer’s 300kb BlockProposal Bolstered in Bid To Push Lightning Adoption

 

‘Increase Fees, Move Transactions to Lightning’

 

John Carvalho from Bitrefill told his followers Dash Jr. three days later that Bitrefill was a plan he could support. “I agree that the block size should not be larger,” said Luke Dash Jr. Carvalho stated that he is more confident to state it now that Lightning Network has made progress. “I’ll run the softfork.” Carvalho responded to a question about the financial incentives that smaller blocks offer by raising network fees.

 

Carvalho stated, “I can imagine a few.” To raise fees (doesn’t have to be malicious; could be for survival). To move transactions to Lightning Network. Maybe miners realise they can make more money if they raise fees on L2 under the right conditions. To reduce costs (new web conditions/network conditions).

 

Core Developer’s 300kb BlockProposal Bolstered In Bid to Push Lightning Adoption

 

Vinny Lingham, cryptocurrency entrepreneur, replied to Carvalho’s tweet. He said that he fully agrees with Dash Jr.’s plan and had been saying it for a while. “1mb is an arbitrarily high number. Bitcoin will rely on L2 to scale. It makes no sense to maintain it at 1mb. Lingham stated that reducing it to 350k, as per Luke Dash Jr’s research, is practical and can help transactions move to layer 2. Twitter users believed Lingham’s statement was joking and that it was merely a playful joke. Core Developer’s 300kb Block Request Bolstered in the Bid to Push Lightning Adoption

 

Stop the Madness

 

Not everyone supported Dash Jr.’s concept or Carvalho’s assertions about higher fees to promote Lightning Network adoption. One Twitter observer said: “Small blocks simply mean less transactions on a chain, purposefully hardcoding a lower limit — It makes no logical sense.” However Carvalho, Dash Jr. and Jorge Timon, Bitcoin Core developer, dismissed the individual’s statements, after he claimed that Lightning Network was “centralized and bloated” and “overcomplicated”.