Tiny Block Advocates Speak Up of Bitcoin Block Size After Veriblock 'Abuses'

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Bitcoin Block Size

Tiny Block Advocates Speak Up of Bitcoin Block Size After Veriblock 'Abuses'

The Bitcoin community recently celebrated the fact that Segregated Witness transactions accounted for 50% of transactions and bech32 transactions also doubled. However, the celebration quickly ended when some BTC developers found out where the transaction came from and got angry at the Veriblock project for using scarce block space. Bitcoin Core developer Luke Jr. urges the BTC community to reduce the block size limit. He further called Veriblock "spammers" and perpetrators "increasing the size of the Segwit block to benefit from legitimate Bitcoin users."

Arguments for Rare Block Spaces and Bitcoin Users 'Legit'.

Block space is a contentious subject in the BTC community because many people believe it is sacred and is only intended for "legitimate" users. Although this opinion is very subjective, many BTC supporters believe that only certain transactions may be allowed on the chain and others are considered "spam" or "abuse." For example, founder of the consulting firm Bitcoin Advisory, Pierre Rochard, discussed how people mistakenly used the term "cost market" when it had to be considered a "block market" at the Baltic Honeybadger conference.

Then,  BTC advocate Brad Mills published a post called "Transaction Eugenics: Bitcoin Block Spaces are Rare Resources & Protocol Developers are Scientific Innovators." on September 15. The post outlines why he considers the BTC block space to be valuable and why "the 1MB stamp is transaction eugenics and the developer of Bitcoin is a scientist who innovates at the edge of making humanity better."  The post was controversial because of Mills's choice of words because of the term "eugenics" refers to the science of population control and eliminating undesirable traits from humans.

Core Developers Experiencing Problems with Veriblock Project, Asks BTC Community to Consider Reducing Block Size

A few days after BTC supporters celebrated the increase in Segwit and bech32 transactions, they learned that the project was blamed by Veriblock. Veriblock even wrote a post about it on September 16 and specifically said the protocol would "now take up more space on Bitcoin." The step towards the Segwit transaction comes from the Veriblock team which released a proof-of-proof (PoP) alpha activated Segwit-enabled proofer. In addition, the team highlighted that Segwit PoP transactions (bech32) will be ~ 28.9% cheaper for operations. Veriblock made headlines a few months ago when the project captured more than 30% of all BTC transactions in February and March. At that point, several BTC influencers despised the Veriblock project and developer Jameson Lopp aforesaid it absolutely was "inefficient" et al. known as it "trash." Now, once the Veriblock protocol captures plenty of bw32 Segwit transactions, BTC developers like Luke son. get irritated with matters.

A chart from Veriblock’s recent Medium blog post describing how they have switched to Segwit bech32 transactions.

"So it turns out (not too surprising) that spammers are abusing the increasing block size of Segwit to benefit from legitimate Bitcoin users," Luke said on September 17. "Reducing the block size limit can balance the unfair advantages / bad incentives that Segwit has made." BTC developer Luke Jr is famous for proposing a reduction in block size and has submitted a proposal for progress. In the proposal specifications published in 2017, Luke argues that The developer must consider reducing the block size to 300 kilobytes. The developer claims the block size should shrink to "safe price, and step by step increase over time, eventually developing on the far side this limit." When programmers insist the block size must be reduced, the BTC chain is dense with transaction stacks (67,000 unconfirmed) and network costs continue to increase. Next - Controversial Over the Reduction in Block BTC Size, the Conversations Continues.

Source: https://news.bitcoin.com/tiny-block-advocates-speak-up-after-veriblock-abuses-bitcoins-block-size/