Are we going to see a fork soon to get some bigger blocks?
Currently the blockchain is able to handle around 80 000 transactions per day, and that’s if there are no empty blocks mined.
With the instant payment api and kyc launch, and a possible 500 000-2 000 000 active users in the near future, we’re going to need more than a max of 80 000 transactions per day.
Very good question. We soon gonna see huge numbers of transactions…
Kinda an interesting point being debated here. In theory, with the Instant Payment system, block times aren’t quite as important, as long as Transaction Throughput X is large enough to support N transactions over a given time window dt.
This means that you can achieve the same throughput through low dt and low N, or through a larger dt and larger N.
That said, I do suppose a smaller dt would aid in achieving more confirmations over it’s own time window; again, not very relevant when taking into consideration the Instant Payment system, as these things are abstracted away.
Bulletproofs might play a role in the future
They could also get involved in or adopt block tree sharding being developed by Masari.
Would be easier and safer to have dynamic block size that go up to 3-4mb when needed.
Massive amounts of transactions is going to make the blockchain size grow, and as I understand it, the new enterprise scaling that Richard is talking about(exchange style wallet) isn’t due for another 3-4 months.
