According to "Bitcoin.com" reports, the Bitcoin Cash network has completed its latest upgrade and has basically implemented the much-anticipated Adaptive Blocksize Limit Algorithm (ABLA). The new feature will make it easier to change block size limits to meet network throughput needs.
Bitcoin Cash launches ABLA in latest network upgrade
Bitcoin Cash successfully completed the latest upgrade of the blockchain on Wednesday (15th), introducing "ac-0353f40e", which is the adaptive block size limit algorithm. The goal of this implementation is to leverage a specialized algorithm to automatically adjust block size limits. This change is intended to simplify the process of adjusting block size limits based on the actual transaction load of the network, eliminating the need for manual consensus, which is time-consuming and vulnerable to social attacks.
Bitcoin Cash now has a dynamic block size limit! More about the upgrade: https://t.co/a75ig9Xf6w https://t.co/dfUQQBj6en
— Jason Dreyzehner (@bitjson) May 15, 2024
Since 2015, big block proponents have argued that increasing the block size limit is crucial to the network scaling and achieving widespread adoption as a peer-to-peer electronic cash system, which they believe Bitcoin creator Satoshi Nakamoto outlined The original vision of Bitcoin emphasized low transaction fees and fast confirmations, and larger blocks could facilitate these goals by housing more transactions per block. Supporters further contend that Bitcoin's 1MB block size limit creates a bottleneck that results in higher fees and slower transaction speeds, making Bitcoin less practical for everyday use.
By increasing the block size, Bitcoin Cash aims to provide a more efficient and scalable solution, ensuring its accessibility and utility for global transactions. The new algorithm ensures that Bitcoin Cash can adaptively and effectively manage its block size, maintaining the strength of the network and its ability to respond to changes in adoption without changing the underlying game theory or incentives. By automating this process, Bitcoin Cash reduces the “common costs” involved in manual adjustments and insulates it from potential disruptions in the consensus process.
Technically speaking, ABLA determines the appropriate block size limit based on the exponentially weighted moving average (EWMA) of past block sizes. This calculation method involves a "control function" and an "elastic buffer function" that work together to Dynamically adjust block size. The control function responds to changes in block size by gradually adjusting the block upper limit to ensure smooth and predictable changes. At the same time, the elastic buffer function can provide extra space for sudden increases in block size, accommodating the surge in demand without overloading the network.
These adjustments are mathematically defined and parameterized to ensure that the block size effectively adapts to the actual situation, balancing stability and flexibility. The algorithm sets a minimum floor value for block size and can react to increases in block utilization, adjusting the upper limit as needed while ensuring the network remains efficient and secure.
On Reddit, a well-known overseas forum, BCH supporters are quite satisfied with the latest upgrade. One netizen wrote that the change could "effectively resolve the scaling debate, possibly permanently," adding: "(Bitcoin Cash) has solved the on-chain scaling issue."
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This article Bitcoin Cash (BCH) completes the upgrade and launches the adaptive block size limit algorithm first appeared on Zombit.
