Garzik and Andressen State that Maxwell’s Bitcoin Roadmap Lacks Consideration of Important Issues
Two prominent Bitcoin Core contributors, Jeff Garzik and Gavin Andressen, co-wrote a response to the recently published bitcoin scalability roadmap by Gregory Maxwell, which is based on the SegWit concept.
While recognizing that there are some great ideas involved in the roadmap, Garzik and Andressen state that the whole idea completely ignores such important issues as possible growth of fees in case it is implemented.
In particular, they wrote:
“If Bitcoin block size is not increased via a hard-fork, when the next Bitcoin reward halves, Bitcoin transaction fees may become prohibitively high for certain applications.”
They also argued that the Scaling Bitcoin workshop has in fact failed to provide the conensus the community was longing for. On the contrary, they say, the workshop only “stalled a block size decision while transaction fee price and block space pressure continue to increase.”
However, they stated they are not opposed to the SegWit proposal, yet they recommend to run in simultaneously with resolving the block size issue, as the matter of higher fees and software limitations are way more important to their reckoning.
Their views have gained support from various prominent figures of bitcoin ecosystem.
Segregated witness is necessary but not sufficient. We must also raise the block size limit. Inaction is a radical re-shaping of bitcoin
— Andreas M. Antonopoulos (@aantonop) December 29, 2015
Coinbase CEO Brian Armstrong tweeted that the response was “well written”, while Roger Ver quoted the text in his tweet, saying “core block size limit should be made dynamic, put in the realm of software, outside of human hands.”
Garzik and Andressen conclude their statement saying:
“To remove long term moral hazard, core block size limit should be made dynamic, put it in the realm of software, outside of human hands. Bitcoin deserves a roadmap that balances the needs of everybody who has worked hard over the last siz years to grow the entire ecosystem.”
While the original roadmap by Gregory Maxwell has gained general support from figures like Charlie Lee or Pieter Wiuelle, the block size limit debate claimed settled by some observers, in fact seems to rage on.
Subscribe to our Newsletter<
- North Korean Hacker Group Lazarus Laundered Over 2,500 Stolen Bitcoins In May, Report
- “BigSpender” Exploit in Some Bitcoin Wallets Allows Attackers to Fake Transactions
- Will Bitcoin Always Be #1?
- U.S. University Pays Over $1M Ransom in Bitcoin to Hackers to Regain Access to Encrypted Data
- Blockstack’s Muneeb Ali: Bitcoin as the Most Secure Blockchain Will Be the Best Foundational Layer for Web 3.0
- Institutional Money In Bitcoin: Problem or Solution? An Expert Take
- Bitcoin Investors Remain Bullish Despite Extended Consolidation
- Emin Gün Sirer Reveals Fundamentals of a Perfect Blockchain. PoW Mining Is Not Included