Ethereum's Vitalik Buterin Polls Crypto Community About Bitcoin Core Block Size

Vitalik Buterin’s Poll to Bitcoin Core Supporters 4, 20 or 36 MB?

On August the 9th, Vitalik Buterin, Ethereum’s co-founder conducted a poll specifically thought for Bitcoin Core supporters. The question was related to a very important topic for the cryptocurrency community, the scalability issue.

He asked his followers on Twitter if they would choose a bitcoin with 4, 20 or 36 MB.

“Suppose you had to flip a coin, and if it handed heads the bitcoin block size becomes one value and if it landed tails the bitcoin block size becomes another value. Which of the following would you choose?”

The first option offered was between 20 MB and 20 MB, the second option was 4 MB and 36 MB, and the last possibility was ‘Show Results.’

20% of the individuals voted for the first option, 15% for the second and 65% for the third option.

This is a very important debate for Bitcoin (BTC) and Bitcoin Cash (BCH) and for other currencies as well. In 2010, Bitcoin’s block size was limited to 1 MB to avoid spamming on the network, and Bitcoin Cash has now 32 MB block size.

At the moment, and with this block size limitation, Bitcoin can only handle 7 transactions per second. Bitcoin Cash, instead, can handle 100 transactions per second. Of course, Bitcoin is having troubles when the network needs to handle more transactions: they become slow and fees increase.

Buterin explained that he wanted to know the opinion of supporters of the small-block proposal with off-chain scaling. For Mr. Buterin, the Lightning Network is not the best proposal for Bitcoin to scale. Because of this, several users in the famous social network exploded and complained to him about his comments.

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

19 + 1 =