Tuesday 1 March 2016

This stress test is very cheap, and raising the block size does not solve it.


As we all know, the blockchain is being spammed with transactions right now. Mostly to fill up the block size.Raising the block size to 2mb does not solve this problem. This problem can happen regardless of block size.1mb spam cost: $0.04 x (3tps x 86400 seconds/day) = $10k in transaction fees.2mb spam cost: $20k in transaction fees.Regardless of what the block size is, this spam attack on the blockchain can and will happen.Please note: There is no need to panic. If you are making transactions, increase your miner fee, or set your wallet to use priority confirmations. via /r/Bitcoin http://bit.ly/1T6iRXy

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