Increase bitcoin block size

1. A block size of bitcoin is 1MB. There is no limit on the size of each transaction. A block can generally contain 2000-3000 transactions.

2. One of the controversial attributes of bitcoin is its fixed supply. At present, 25 new bitcoins are proced every 10 minutes, and the number is halved every four years. Overall, there won't be more than 21 million bitcoins & gt;. On the other hand, each bitcoin can be divided into 100 million shares (each is called 1 "cong"), if one cent is enough to buy a car, it will be troublesome to trade in US dollars, but even if bitcoin rises to the level of US dollars assumed above & gt; We will not encounter such problems. Therefore, in short, the total number of monetary units that will always exist is 2100 billion, that is 2100 trillion, or 250.899. In the square of choosing this value & gt; In fact, Nakamoto is much luckier or smarter than most people realize. First of all, this number is far less than 264-1, which is the largest integer that can be stored in the form of standard integer in a computer. If it exceeds that value, & gt; The value will return to zero like a odometer
secondly, however, there is a smaller threshold for the total number of "smart": the largest possible integer that can be represented in floating-point format. Integers are not the only numbers that computers can store; To deal with decimals, computers & gt; Use a format for floating point representation. Floating point notation is essentially a binary version of scientific notation. For example, here is a value you will encounter when you study physics:
mass of the earth: 5.972 1024 kg
mass of the sun: 1.989 1030 kg
speed of light: 2.998 108 M / s
light year: 9.460 1015 m
mass of proton: 1.672 10-27 kg
Planck length: 1.616 10-35 m
we can notice that, How does scientific notation allow you to represent all of these values with reasonable accuracy, even though they vary greatly in size. Floating point notation is essentially a binary scientific notation; When you store numbers & gt; When the word is 9.625, what your computer stores is "1.001101
* 1011" (in other words, it stores 0100000000100011
& gt; This is the same thing with high-precision sequence form). In this high-precision form, the coefficient (that is, the part that is not the exponent) has 52 bits. This means high precision (more refined & gt; Double precision floating point number is enough to store up to 253 numbers, but it can't be any higher. If it exceeds 253, you have to start cutting off the numbers at the end. Bitcoin's 250.9, the total number of "smart" in the form of index, is just & gt; OK, below this maximum
if we have integers, why should we care about floating-point values? Because more high-level programming languages (such as JavaScript) do not open low-level "floating point" and "integer representation", but only provide "number" representation for programmers; Concepts
– of course, in floating-point form. If Nakamoto chose 210 million instead of 21 million at that time, bitcoin programming in many languages would be much more troublesome than it is now
note that Stefan Thomas unfortunately didn't notice this in time when he wrote bitcoinjs, so that the library used a special "big number big
number" object instead of an ordinary number to store the tutorial output value; My own bifurcated bitcoin JS (along with other improvements) uses ordinary numbers.

3. Hanging order is the number of orders waiting to be bought and sold behind the five trading prices transmitted from the exchange ring the market trading period. Together with five trading prices, these ten data constitute the most original public data in the whole trading system

4. The credit problem of central system

5. Slicing technology is one of the common methods used by developers to improve transaction throughput
in short, slicing is a partition method to divide computing power and storage workload in a point-to-point network. After slicing, each node no longer needs to deal with the transaction load of the whole network, It only needs to process the transactions in the partition (or partition)
just like the current blockchain, the information contained in the partition is jointly maintained by multiple nodes, thus ensuring the decentralization and security of the ledger. After the partition is enabled, everyone can still see all the information in the ledger, but people no longer need to process and store all the information

6. I went to have a look. Yes, it is. It refers to the quantity that each block can obtain at present. For example, BTC's is 25, which means that at present bitcoin has a reward of 25 coins per block. Biter's expression is not accurate. You can go to Babbitt's currency circle and suggest that biter make corrections.

7. Yes~~~~~~~~~~~~~~~

8. I think this is the biggest problem of BTC at present. The current transaction volume is still very small. If the transaction volume increases by 100 times, the client data will become a headache, that is, the transaction volume does not rise. If the wallet keeps rising and reaches the P level, synchronization will become impossible. The designer of BTC has considered this problem, but it's a pity that the problem has not been solved after he left.

9. Capacity expansion is a means that when a container or load is not enough to support or carry the demand of existing things, we can expand the capacity of the container or load to meet the growing demand, so as to relieve the pressure on the current container or load
at the beginning of the birth of bitcoin, Ben Cong, the founder of bitcoin, did not deliberately limit the block size. The maximum block size was 32MB, and the average block size was 1-2kb at that time
at that time, there are few bitcoin users and the transaction volume is not so large, which will not cause block congestion. However, since 2013, with the price of bitcoin rising sharply, there are more and more users, resulting in network congestion of bitcoin and rising transaction costs of users
up to now, there is a backlog of hundreds of thousands of transactions on the bitcoin blockchain. The average transaction cost of bitcoin is 376 times higher than that in September 2010. The processing speed of seven transactions per second has obviously been unable to meet the needs of users. The bitcoin community has begun to explore how to "expand the capacity" of bitcoin
by modifying the underlying code of bitcoin, the transaction processing capacity can be improved
there are two development and design schemes for bitcoin expansion, namely, the first layer and the second layer expansion technology
· the first layer of capacity expansion technology is to improve the blockchain itself, to make the blockchain itself faster and larger. Generally speaking, it is to change the content of the consensus part of the blockchain
· the purpose of the second layer expansion technology is to move the computing to the lower chain, that is, to solve the problem through the side chain technology
expansion protocol and outcome
expansion protocol generally needs the support of miners, which can be roughly divided into modifying block size, soft fork, hard fork, isolation witness and so on
take bitcoin as an example:
bitcoin is now divided into big block bitcoin cash (BCH) and isolation witness. Isolated witness is now recognized as bitcoin in the market, while big block coin is named bitcash. It can be predicted that in the future, bitcoin will focus on off chain trading. Including lightning network and side chain. These two new things are not mature at present, but they are highly expected by many people
bitcoin will develop a large number of isolated witness transactions and make more derivative technologies on the basis of isolated witness. Most likely, bitcoin will be pushed forward by technology
bitcash will focus on the development of monetary function, rece transaction friction as the main way, and gain more extensive users on the chain as the main development direction
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10. Bitcoin block height refers to the block limit