Max block size fork upcoming?


#1

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.


#2

Very good question. We soon gonna see huge numbers of transactions…


#3

They could easily fork the block time times down to get more transactions so here is quick break down:

2min block time----------------80,000 per day
1min bloc time----------------160,000 per day
30sec block time-------------320,000 per day
15sec block time-------------640,000 per day
10sec block time-------------960,000 per day
5sec block time--------------1,920,000 per day
2.5 sec block time-----------3,840,000 per day
1 second block time--------10,000,000+ per day

Blocks could even go less than once second per block and it is possible to get 100’s of millions of transactions per day.


#4

Hmm sadly it’s not that simple to lower block time like this, iirc, lowering too much might cause the creation of orphaned blocks and stuff like this, might need to check again tho, but it’s definitely not that simple :stuck_out_tongue:


#5

Agreed it would get tricky when you start to go to quick block times under 10 seconds, but it is possible as other coins have done it with success. If you know what you are doing it would be possible, also getting down to 30sec to 1min block times would and should not be any issue currently. Also I am sure there are ways to get more transaction into each block and thus would make block times not as important. 30 second blocks could be implement with ease I would think and would increase our current transaction 4x from what it is now.


#6

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.


#7

Bulletproofs might play a role in the future

They could also get involved in or adopt block tree sharding being developed by Masari.


#8

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.