The Scaling Bitcoin Workshop in HK is just wrapping up. Many fascinating
proposals were presented. I think this would be a good time to share my
view of the near term arc for capacity increases in the Bitcoin system. I
believe we’re in a fantastic place right now and that the community
is ready to
On Mon, Dec 7, 2015 at 4:02 PM, Gregory Maxwell wrote:
> The Scaling Bitcoin Workshop in HK is just wrapping up. Many fascinating
> proposals were presented. I think this would be a good time to share my
> view of the near term arc for capacity increases in the Bitcoin system. I
> believe we’re in
I made a post a few days ago where I laid out a scheme for
implementing "coalescing transactions" using a new opcode. I have
since come to the realization that an opcode is not the best way to do
this. A much better approach I think is a new "transaction type" field
that is split off from the versi
On Mon, Dec 07, 2015 at 10:02:17PM +, Gregory Maxwell via bitcoin-dev wrote:
> ... bringing Segregated Witness to Bitcoin.
> The particular proposal amounts to a 4MB blocksize increase at worst.
Bit ambiguous what "worst" means here; lots of people would say the
smallest increase is the worst
> On Mon, Dec 07, 2015 at 10:02:17PM +, Gregory Maxwell wrote:
> > If widely used this proposal gives a 2x capacity increase
> > (more if multisig is widely used),
So from IRC, this doesn't seem quite right -- capacity is constrained as
base_size + witness_size/4 <= 1MB
rather than
base
On Tue, Dec 8, 2015 at 4:58 AM, Anthony Towns via bitcoin-dev
wrote:
> Having a cost function rather than separate limits does make it easier to
> build blocks (approximately) optimally, though (ie, just divide the fee by
> (base_bytes+witness_bytes/4) and sort). Are there any other benefits?
Act
On Tue, Dec 08, 2015 at 05:21:18AM +, Gregory Maxwell via bitcoin-dev wrote:
> On Tue, Dec 8, 2015 at 4:58 AM, Anthony Towns via bitcoin-dev
> wrote:
> > Having a cost function rather than separate limits does make it easier to
> > build blocks (approximately) optimally, though (ie, just divid
