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.
The founder of Digital Bitcoin Art and Assets believes that smart contracts on Bitcoin could solve the myriad problems created by Ordinals.
RGB protocol may offer solution to Bitcoin’s Ordinals jam, proponent claims
The hype around Bitcoin Ordinals and BRC-20 tokens is unsustainable and will fade away in a matter of months, according to Jan3 CEO Samson Mow.
Ordinals and BRC-20 will disappear in a matter of months, says Jan3 CEO
What do Bitcoin ecosystem CEOs make of Ordinals, and what does the video game Doom have to do with it?
Bitcoin thought leaders weigh the pros and cons of Ordinals
The increasing popularity of Bitcoin NFTs, or Ordinals, will positively impact the Bitcoin network’s security and attract developers to the ecosystem, according...
How the Ordinals movement will benefit the Bitcoin blockchain
Bitcoin’s average block size has hit an all-time high of 2.5MB following the creation of the Ordinals protocol in January 2023.
Out of the Ordinal-ry: Bitcoin average block size hits all-time high
Cryptocurrency’s hash rate measures a blockchain network’s processing power to process transactions.
What is Bitcoin hash rate and why does it matter?
A fraternity-based approach to mine crypto, mining pools let miners combine their computational resources for a better chance to win rewards.
What is a cryptocurrency mining pool?
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’