Luke Dash Jr, a Bitcoin Core (BTC), developer has stirred controversy once more with his plan to reduce the block size of the BTC Shelter Crypto to 300kb. Although the concept was not new, there is more support for it this time to encourage Lightning Network adoption. More about Charity Token Homeless
Luke Dash Jr. Proposes Temporary 300kb Block Soft fork
In January 2017, Luke Dash Jr, a cryptocurrency developer, proposed a Bitcoin Improvement Proposal. This proposal requested that the block size be reduced to 300kb per block. Although the proposal was submitted before network fees soared to $30-50 per transaction (which occurred months before the rise in network fees), the mempool (transaction queue), had already begun to overflow. The BIP was quickly rescinded as the scaling debate was at its peak and people were becoming increasingly upset by the growing fees market.
Today, Dash Jr proposes to reduce the block size to less than one-third of the 1mb limit. The patch would force a very simple softfork, reducing Bitcoin block size to 300kb from Aug 1 through Dec 31 — It demonstrates that one can make truly temporary softforks,” Dash Jr explained on Twitter. This patch should not be used in production, even if it supports UASF.
Core Developer’s 300kb Block proposal Bolsted in Bid for Push Lightning Adoption
“Increase Fees and Move Transactions To Lightning”
John Carvalho, Bitrefill’s John Carvalho, told his followers Dash Jr. that he supported Bitrefill’s plan three days later. “I agree with Luke Dash Jr. that the block size should decrease. Carvalho said that he feels more confident saying it now that Lightning Network is making progress — he’ll run soft fork.” Carvalho answered when asked about financial incentives for smaller blocks by offering higher network fees.
Carvalho said, “I could envision a few.” To increase fees (does not have to be malicious, could be survival). To transfer transactions to Lightning Network (perhaps miners realize that they can make more money by raising fees on L2, if the conditions are right). To lower costs (new network/web conditions).
Core Developer’s 300kb Block proposal Bolstered in Bid for Push Lightning Adoption
Vinny Lingham, a cryptocurrency entrepreneur, responded to Carvalho’s tweet by saying that he completely agrees with Dash Jr’s plan and has been repeating it for some time. “1mb” is an arbitrary number. If Bitcoin relies on L2 for scale, it doesn’t make sense to keep it at 1mb. Lingham stressed that it is practical to reduce it to 350k according to Luke Dash Jr’s research and help move transactions to layer 2. Many people believed Lingham’s statement was made in humor, but it was actually a joke. Core Developer’s 300kb Block proposal Bolstered in Bid for Lightning Adoption
“Stop the Madness”
But not everyone was in agreement with Dash Jr.’s idea and Carvalho’s comments about charging higher fees to encourage Lightning Network adoption. One Twitter observer commented that smaller blocks meant less transactions on the chain and that Dash Jr had purposely hard-coded a lower limit. It didn’t make logical sense. However, Carvalho and Dash Jr and Bitcoin Core developer Jorge Timon dismissed the statements of the individual after he stated that Lightning Network was “centralized”, bloated and complicated.