Surprisingly, it appears that BCH functionally has a similar block size limit to BTC. Within the last two days, Bitcoin Cash had 270,000 unconfirmed transactions in its 'mempool' from an unexpected surge in traffic.
Although 32MB blocks are technically valid on the Bitcoin Cash network, the mining software for the protocol has the default block limit set to 2MB. Many miners, including some of the largest mining pools are not changing the limit upward.
Even worse, many of these miners are the same miners who advocated for big blocks.
In contrast, at its lowest Bitcoin miners were rewarded anywhere between $2,000 and $7,000 for a single block over the same time period, over 200-times the amount.
Merely changing the default block size limit may not solve issues around Bitcoin Cash.
Despite its larger block size limit, the Bitcoin Cash network rarely sees the traffic necessary to utilize the difference.
The centralization dynamic is explained in further depth in this critique of big blocks on Bitcoin SV. Vitalik Buterin even proposed that Ethereum should use Bitcoin Cash as a sort of data dumping ground for this reason.
If large blocks suddenly propagate they can cause nodes on the network to desynchronize, said the developer, similar to what was witnessed on Bitcoin SV recently.
Most concerning, if Bitcoin Cash were to actually use its 32MB block limit, a "Good chunk" of all wallets that support BCH would "Die," said the developer.
Despite aggressive marketing from Roger Ver and others, it seems Bitcoin Cash doesn't even take advantage of its purported 32MB big blocks.
Bitcoin Cash miners cap blocks at 2MB-is BCH no better than BTC?
Published on Sep 3, 2019
by Cryptoslate | Published on Coinage
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