Bitcoin With Heterogeneous Block Sizes: A Scaling Proposal - viXra.org
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Bitcoin With Heterogeneous Block Sizes: A Scaling Proposal - viXra.org
[1] Satoshi Nakamoto - Bitcoin: a peer-to-peer electronic cash system (2008). [2] Ralph C. Merkle - Secrecy, authentication, and public key systems (1979).
Bitcoin With Heterogeneous Block Sizes: A Scaling Proposal Santi J. Vives jotasapiens.com/research
Abstract: We propose a bitcoin generalization as a solution to the problem of scalability. The block is redefined as a sequence of sub-blocks of increasing sizes that coexist as different levels of compromise between decentralization and transactions throughput. Miners and users can decide individually the size they use without affecting others.
1. Introduction Bitcoin is the first mathematical (cryptographic) construction to enable secure, permissionless, and peer-to-peer money and payments. It solves many fundamental problems, but others still need work. As it gains adoption, bitcoin begins to face problems of scalability. The volume of transactions the network is capable of handling remains small compared to traditional payment systems. The limit of transactions is currently determined by a maximum block size agreed by the network. The block size can be increased over time as hardware becomes more efficient. But increasing the size too much or too early can lead to a centralized network, with a few miners controlling most of the hashrate. The problem can be described in a simple way. In the bitcoin network, we find a set of different miners, with different hardware, capable of processing different volumes of transactions. We can sort miners by the maximum block size they can handle. From the smallest to the largest, we get: m 0 < m1 < m2 < m3
