Bitcoin Block Size News

All transactions made with Bitcoin are recorded into a blockchain block, the size of which is 1 MB. Initially, there was no limit, but as Bitcoin’s technology spread into the public, there were a number of hacking attacks in 2010 and containing the storage size of a block was something that could help make blocks more sustainable and protected from them. When making transactions with a small amount of data, such as in case of creating a new block, users didn’t even notice the limit. Nevertheless, as a number of miners, sellers and buyers increases every day, problems due to the size of the blockchain are becoming more evident. Nowadays, some are considering expanding the Bitcoin block size. However, it will take miners much more time to create a new block and amending the code is a complex process, so such an improvement might take a lot of time and money.
Markets News
To mine, or not to mine, that is the question. Professional Bitcoin miners discuss the nuance of BTC mining and whether now is a good time to get started.
Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’
Ray Salmond
2022-06-28T18:30:00+01:00
7244
News
The cost of moving Bitcoin across the network has hit decade lows as Lightning Network, batching, miner behavior and protocol improvements have driven costs dow...
Bitcoin transaction fees hit decade lows—Here's why
Joseph Hall
2022-04-06T11:32:27+01:00
10465
News
A Glassnode report reveals that some major cryptocurrency exchanges are still holding despite being heavy consumers of Bitcoin block space.
Bitcoin SegWit adoption lags among major exchanges: Glassnode
Joseph Hall
2022-02-04T14:20:00+00:00
2067
News
Data from BTC.com estimates that the network will continue to grow stronger by attaining another all-time high in the next 12 days, with a network difficulty of...
Bitcoin records all-time high network difficulty amid price fluctuations
Arijit Sarkar
2022-01-23T05:32:57+00:00
23358
Analysis
This upgrade focuses on the expansion of the Bitcoin network’s smart contract capabilities and improves privacy on the network.
Bitcoin Taproot upgrade improves the network as BTC price impact may be limited
Anirudh Tiwari
2021-11-13T14:07:00+00:00
21230
Altcoin Watch
Following Dogecoin’s lead, Ethereum Classic rallied to a new all-time high and Bitcoin Cash doubled as altcoin forks have started to gain traction.
What the forks? Bitcoin Cash and Ethereum Classic see triple-digit rallies
Jordan Finneseth
2021-04-16T21:00:00+01:00
63866
Explained
Why do blockchains need transaction fees — and which networks allow crypto to be transferred less expensively? This explained article ta...
Transaction fees, explained
Anatol Hooper
2020-11-02T13:00:00+00:00
Interview
Can Bitcoin's network handle mainstream adoption?
Bitcoin Still Faces On-Chain Scaling Trouble Ahead, Decred Co-Founder Says
Benjamin Pirus
2020-06-09T21:54:45+01:00
7108

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