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Is it time to increase the blocksize cap?

Is it time to increase the blocksize cap?

Posted on: June 18, 2024 06:44 UTC

The debate around increasing the block size limit within blockchain networks, particularly concerning Layer 1 (L1) adjustments, presents significant technical challenges and considerations.

A key point raised is the impracticality of simply enlarging the L1 block size to accommodate more transactions or operational capabilities. This approach is critiqued for its potential impact on network decentralization and the practical implications for node operators. The original Lightning Network proposal, while a step towards scalability, acknowledged its limitations in serving the entire global population.

An alternative strategy suggested involves exploring the development of additional layers that would operate either between the existing timechain and the Lightning Network or directly on top of Lightning itself. Such layers could potentially address scalability concerns without necessitating changes to the core blockchain infrastructure, which might compromise its decentralized nature or impose untenable demands on node operators.

The discussion highlights the substantial increase in storage requirements that would result from raising the block size to 32MB. With the current blockchain generating 144 blocks daily, this change would necessitate approximately 4.608GB of additional storage per day, significantly escalating the storage capacity needed for node operation. For instance, a node currently accommodating roughly 658GB (excluding certain indexes) would see its storage capacity exhausted in less than half a year if it were to support 32MB blocks. This scenario underscores the economic and logistical challenges facing node operators, emphasizing the need for sustainable solutions that do not unduly burden participants with frequent hardware upgrades or excessive storage costs.

In light of these considerations, the discourse suggests a cautious approach towards implementing major structural changes to blockchain networks. Investigating opcodes that facilitate the creation of supplementary layers without introducing new complications is recommended as a preferable path forward. This approach aims to enhance scalability and functionality without compromising the foundational principles of decentralization and accessibility that underpin blockchain technology.