I wrote this paper for my Systems Architecture course and decided to do it on a hotly debated topic for bitcoin; whether to increase the block size and if so, what way. I submitted this paper to the Ledger, Bitcoin’s first peer reviewed journal, but since this topic is changing so quickly they passed for this iteration and requested a redo once the dust settles.
Abstract. This paper will discuss the issues, hurdles and concerns regarding the maximum one megabyte block size limit currently imposed for Bitcoin and whether an increase to the block size is needed or required. This paper will also analyze both arguments for and against the block size and compare that to each of the current Bitcoin Improvement Proposals (BIP). It is the conclusion of this paper that the block size should increase as long as the arguments against an increase are addressed and the best BIP(s) that supports this conclusion is an amalgamation of BIP 102 and BIP 103.
Tweet by @JGarzik – https://twitter.com/jgarzik/status/697603575875309570