BITCOIN CORE DEVELOPER COMMITS TO 20MB BLOCK SIZE BY MARCH, 2016
The discussion has been ongoing since late 2014. What is the ultimate solution to the problem of the block sizes? Hind sight is 20/20, but foresight is golden, or so it seems now that Gavin Andresen has made a commit on his personal fork of the Bitcoin Core repository that states, simply:
Allows any block with a timestamp on or after 1 March 2016 00:00:00 UTC to be up to 20,000,000 bytes big (serialized).
This won’t come as a surprise to anyone who’s been paying attention. The discussion has been widely circulated throughout the cryptocurrency space. Some users have said that a simplistic approach will not yield the best results, while others have said that the decreasing cost of storage space will compensate for the increase in block sizes.
Andresen has been talking about the problem since last October, when he wrote in a blog post:
This post was published at Crypto Coins News on 04/05/2015.