Bitcoin Developer Talks Block Size, Running Nodes and More During the Magical Crypto Conference
- Developer Luke Dashjr believes that smaller block size is better in the short term.
- Dashjr believes that an extension block could be a good alternative for a hard fork, considering the effort that goes into both is equal.
With the progress that the cryptocurrency industry has made this year, there have been many proponents that have come out to support the industry. In fact, there’s even proponents that have suggested that the progress is the beginning of another bull run. Peter McCormack recently hosted a podcast when he spoke with Luke Dashjr, a famous Bitcoin Core developer, opening the conversation about soft forks and hard forks, along with block sizes with the blockchain.
Dashjr explains the main difference between a soft fork and a hard fork, saying that a soft fork “modifies Bitcoin in such a way that it becomes an altcoin.” He added that establishing a hard fork requires “a 100% consensus which places a check on nefarious activities,” saying that there are ways of avoiding the use of a hard fork to improve the block size by establishing an extension block. The extension block takes about the same amount of effort as a hark fork would.
The discussion then turned to the debate in the market that surrounds the increase or decrease of the Bitcoin block size. Dashjr expressed that he would prefer that the block size goes down to 300k, “at least in the short term.”
“The effects of the block size impact different people differently, for some transactions may take a few hours while for others it may take weeks.”
Dashjr took the opportunity to say that the individuals that claim that Bitcoin’s blockchain is “1 meg” aren’t being entirely honest, because it was supposed to be “4 meg” right now. He stated that the wallets on the blockchain could cause an attack on Bitcoin without intending to, since there’s no main entity in control.