Notes

Elasticity of block size
The size of a block in the blockchain is set to a fixed value by Nakamoto in the white paper. Nakamoto set the average block size at 1 MB after observing that the size of blocks were increasing over time, causing a slower propagation of new transactions through the network.

Nakamoto stated that as blocks became full transactions could not be added to the blockchain. Any blocks that could not be included due to size restriction would remain "orphaned" and unreachable. Nakamoto argued that an ever-increasing block size would result in the "segregated record" problem, where users could create what appeared to be the same transactions from two different blocks. Nakamoto believed that a transaction fee would prevent this: a user would be charged for including a transaction into a block, so they would only create transactions that they intended to be public. Nakamoto specifically argued that the transaction fee would not turn into a "per-megabyte fee" but rather a "per-block fee" due to the additional overhead costs involved in propagating new transactions to each block.

https://1xbet-bahis-site.com/ A user would also be incentivized not to retain large blocks as it would become increasingly uneconomical for them to do so, as more and more users would be able to reuse the transactions inside of them.: 182 Nakamoto believed that the block size would be halved every 4 years to keep the block size at around 2 MB.

Later on, in January 2017, the Bitcoin community decided to raise the block size limit by 0.5MB to increase the current capacity of the network.

When the blocks get full, the Bitcoin protocol forces any blocks carrying transactions that have not been properly verified by all of the network to be discarded (orphaned), unless they contain a transaction fee that is greater than the median transaction fee in the entire blockchain since the last special checkpoint, in which case the block is also not orphaned. [ 3 ] This is a safety feature, preventing the blockchain from growing infinitely.

Although the blocks grow exponentially, at some point the blocks will fill up and then every single transaction from the entire blockchain will have to be mined in every block. This is called "the [block] reward problem".

One proposal to solve this problem is to raise the size limit of the block, to a much greater value than what is currently in use. Many are skeptical of this, however, since a block that is large enough
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