Controversial Lightning Network Initiative to Reduce Bitcoin Block Size

The idea to reduce the size of the bitcoin block came inappropriately. Luke Dash Jr., one of the developers of Bitcoin Core, came up with the idea of reducing the size of a bitcoin block to 300 kb. Dash Jr. was supported by Bitrefill Chief Operating Officer John Carvalho, who said that "the block size should be smaller."

He explained that "The Lightning Network is making great strides, and I will be implementing the soft-block of the bitcoin blockchain."

I agree with @LukeDashjr that the block size should not be smaller. I feel more striking. I'll run the soft fork.

– John Carvalho (@BitcoinErrorLog) February 10, 2019

This idea met with sharp resistance from one of the founders of the main forum of the cryptocurrency community, Bitcointalk, Cobra. He stated that it was necessary to “stop the madness”, because:

“The latest bitcoin needs is more and more pretentious forks at the time when 2019 becomes a Rubicon in the degree of distribution of cryptocurrency.”

Cobra believes that Carvalho is cunning when he says that reducing the size of a block is only a “softfork”, in reality it is about “the most natural hard forks”. As a result of such actions with the Bitcoin network, "the existing system of achieving consensus will be struck, which will cause great tragedy, as well as damage to Bitcoin's reputation."

Stop this madness! Last bit for a bitcoin! A soft fork to "reduce the block size". This is a split cause of damage coercion in Bitcoin. https://t.co/54tzz4UIli

– Cøbra (@CobraBitcoin) February 11, 2019

Shrinking the block is being started because supporters of the Lightning Network believe that 2019 is the year of the Lightning Network, and "a smaller block size will help speed up the process of spreading this second layer." It is noted that using the Lightning Network, each user of Bitcoin will manage the nodes.

This is the year of the Lightning Network. LN adoption. This will make it possible to complete the process. For onchain payments use BitcoinCash.

– Wecx- (@Wecx_) February 11, 2019

For the first time, the topic of reducing the size of the block appeared in January 2017, but then it did not gain enough quorum among Bitcoin supporters. Now, as Luke Dash Jr. notes, this topic has re-emerged, since the blockchain is, in his opinion, already too “cumbersome.”

There is never any guarantee. It is a realistic hope for you.

The blockchain is getting worse.

– Luke Dashjr (@LukeDashjr) February 6, 2019

Meanwhile, a smaller block means a smaller amount of transactions in the BTC network , which is counterproductive for a blockchain bitcoin. Thus, the aspirations of some supporters of the Lightning Network to develop this “second layer” may harm Bitcoin. By the way, the Lightning Network recently received support from Twitter founder Jack Dorsey.

Date of publication: 16.02.2019
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