Core Developer's 300kb Block Proposal Bolstered in Bid to Push Lightning Adoption

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Bitcoin Core (BTC) developer Luke Dash Jr has once again sparked controversy with his idea to shrink the BTC chains block size down to 300kb. Its not the first time the concept was proposed by the developer, but this time around theres more support for the idea in order to drive Lightning Network adoption.

Luke Dash Jr Proposes Temporary 300kb Block Soft Fork

Back in January 2017, cryptocurrency developer Luke Dash Jr proposed a Bitcoin Improvement Proposal (BIP) requesting the block size to be decreased down to 300kb per block. The proposal was submitted months before network fees skyrocketed to $30-50 per transaction, but at the time the mempool (transaction queue) had already started to fill up. Back then the BIP was brushed off pretty quickly, since the scaling debate was starting to peak and people were already upset about the rising fee market.

Fast forward to today and Dash Jr is again proposing to shrink the block size down to less than one third of the 1mb limit. This patch would enforce a very simple soft fork, reducing Bitcoin block sizes to ~300kb between Aug 1 and Dec 31 — It demonstrates how one can make a truly temporary soft fork, the developer explained to on Twitter. Do not run this in production even if you support UASF.

Core Developer's 300kb Block Proposal Bolstered in Bid to Push Lightning AdoptionIncrease Fees and Move Transactions to Lightning

Three days later Bitrefills John Carvalho told his followers Dash Jrs plan was something he could get behind. I agree with Luke Dash Jr that the block size should be smaller. I feel more confident to say it now that we have Lightning Network making strides — Ill run the soft fork, Carvalho explained. When he was asked what financial incentives smaller blocks offered, Carvalho replied by bolstering higher network fees.

I could imagine a few, Carvalho stated. To increase fees (doesnt even have to be malicious, could be for survival). To move transactions to Lightning Network (maybe miners realize they can make easier money by increasing fees on L2, under the right conditions). To reduce costs (new network/web conditions).

Core Developer's 300kb Block Proposal Bolstered in Bid to Push Lightning Adoption

In response to Carvalhos tweet, the cryptocurrency entrepreneur Vinny Lingham replied to the discussion by saying that he totally agrees with Dash Jrs plan and has been saying it for a while. 1mb is an arbitrary number and if Bitcoin is going to rely on L2 to scale, then it makes no sense to keep it at 1mb. — Reducing it to 350k as per the research from Luke Dash Jr is practical and can help move transactions to layer 2, Lingham emphasized. A slew of people on Twitter believed that Linghams statement was said in jest, however, and was basically poking fun at the idea.

Core Developer's 300kb Block Proposal Bolstered in Bid to Push Lightning Adoption

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Tags: Lightning Network, Bitcoin Core, Lightning, Adoption, Vinny Lingham, Supreme Court of India