Block time interval shorter can help the bitcoin expansion, whether feasible?

Block time interval shorter can help the bitcoin expansion, whether feasible?

A small adjustment bitcoin may have great influence.

Which has been the focus of bitcoin ‘block size argument’, have long debated whether to lift the mandatory restrictions for each transaction to accommodate the amount of data blocks.

One that the lifting block size is a simple way to increase the network trading volume, is likely to expand bitcoin users. Against the promotion of block size people worry that this change will lead to some consequences (center and unstable), or at least to doubt whether it is necessary to enhance the block size in the short term.

The other part of the bitcoin may also be changed or moved, any change will cause different effects, good or bad the overall health of the network.

Earlier this month, a speech at the Milan meeting of the expansion of bitcoin on how to change the parameters can affect the bitcoin network, such as adjusting block created frequency may be a simple way to increase trading capacity.

By proving the chain from a block of workload (bitcoin or etheric Fang etc.) the data extracted from the open source simulator, the Federal Institute of technology in Zurich (ETHZ rich) the researchers believe that bitcoin block time can be safely reduced from 10 minutes to 1 minutes.

The idea that negatively affects the safety of this kind of change will not bitcoin, but still can increase the number of transactions on the network may. So, the point is that this method better on the whole.

Zurich Federal Research Institute of information security is a doctoral student ArthurGervais told Coindesk:

“According to my research, one minute intervals seem to be the most reasonable. I’m not saying it can provide sufficient security, safety and bitcoin provide security but this method is currently the same.”

Then this method of how to improve the ability to trade? The logic is very simple: more block means more transactions.

The results of this study add some other focus on improving the bitcoin trading ability idea, including the isolation of lightning witness, network and other proposals, such as Schnorr signature and plans to re adjust the client to verify bitcoin aspiring. There are some options for bitcoin implementation, including Unlimited and Classic, by increasing the block size limit to seek expansion.

The “block” argument?

Adjust the parameters to improve capacity that reminds you of what? Bitcoin block size has long been regarded as an extended discussion of trading capacity. So, does this mean that we will be from the “block size argument” to “block time argument”?

According to Gervais, is not the case. He believes that his project is more as a block chain and objective measures are compared, in order to understand how these changes may affect bitcoin, then developers can make more clear decision.

He said:

“If people do not want to sacrifice safety and expansion, they have several options. I think there is a very good choice. This is why we have been doing this work.”

Gervais continued:

“Not only for the effects of changing the block size and block time lack of understanding, but in general the safety of understanding is insufficient. People are creating new competitive currency and block chain, we should first look back on the current system of what can be done.”

Some other people for a shorter time interval block is also very cautious.

Bitcoin consultant AlexandreBergeron said,

“From my point of view, these are high risk claims, but also may have some uncertain results. The idea on paper is really good, but would have a considerable impact on the network, and with some unexpected consequences.”

He believes that the combination of game theory and financial incentive is a “balancing act”. This is another lesson to measure the trade-off; developers believe that the network requires a specific combination of parameters and settings, otherwise the whole network security may be destroyed.

Gervais believes that the shorter block time may help the expansion of bitcoin, but he will not go to promote this change.

“In what should be done and what should not be done, we do not have access to public opinion.”

All will probably happen

In addition to some fuzzy concept of financial security, block chain security in encryption currency exactly what it means?

If the conditions are right, that will make the network more secure and strange behavior will be more and more popular. This includes duplicate payment (users more than once spending their bitcoin) or selfish mining (a miner to other miners at the expense of bit by cheating to earn more money)

This “old rate” on behalf of the miners to find how long blocks, rather than eventually added to the block chain. The old block too much may lead to mining center degree increase, and may also make the blockchain easier to attack.

Gervais and others, the Zurich team’s, in order to determine a minute block interval is the most feasible.

Gervais said:

We simulated all possible.”

The experimental results show that the team tested from 0.1MB to 16MB block size, and from 0.5 seconds to 25 minute block interval, in order to observe changes of old block rate.

But, like many other specified block chain, block time change is very complex. BitcoinCore contributor GregMaxwell skeptical, he advocated longer in the Reddit block of time. He believes that the problem is very difficult because of time block, block if the time interval is too short, may lead to rapid decline in network security.

Leave a Reply

Your email address will not be published. Required fields are marked *