Jeff Garzik , a bitcoin code veteran who recently launched the Bloq code-for-hire service to develop blockchain features, continues to defend a hard fork solution to the bitcoin scaling challenge. Garzik has engaged with individuals who disagree with him on Twitter in the last few days. Jeff Garzik Everyone agrees the block size needs to expand if the bitcoin network is going to process a larger volume of transactions. But the solution has proven evasive. Garzik has voiced his dismay at the number of people who have proposed using technically inferior systems to increase the block size. Bitcoin Block Needs To Expand
Garzik has said he supports increasing the block size beyond the current 1 MB. He has said bitcoin has to be used by more than a million people if it is going to become a significant currency.
He would like to see Segregated Witness (Segwit) introduce a hard fork. Such an upgrade will require users to agree to the rule change. Such a solution would require consensus, which Garzik sees as key to bitcoin’s purpose and benefits. SegWit needs to be a hard fork. Putting control of -economic resource size- in the hands of a few devs & miners is anti-bitcoin. There have been various scaling solutions to the block size challenge. In August, the issue reached a crescendo and people tried to defuse the block size situation with Bitcoin XT, which if adopted, would increase bitcoin’s block size. It did not gain many supporters. Segwit Gains Support
Pieter Wuille, co-founder of Blockstream, presented the Segwit proposal at the Scaling Bitcoin Hong Kong in December. Supporters say Segwit could provide a fourfold increase in network capacity in a short time frame.
Unlike other proposed solutions, Segwit can be introduced to the network as a soft fork, thereby avoiding the […]
