Chapter
Bitcoin Hard Forks Explained
50:29 - 1:00:07 (09:38)
The 2017 Bitcoin hard fork created a clone of the original Bitcoin with an alternative future. Small blockers want to scale Bitcoin with a layered approach while large blockers prefer a larger block size for transactions.
Clips
The block size war, which occurred when the limit was installed to one megabyte per block, was a technical but also deeply political issue for the cryptocurrency, although it effectively ended.
50:29 - 52:39 (02:10)
Summary
The block size war, which occurred when the limit was installed to one megabyte per block, was a technical but also deeply political issue for the cryptocurrency, although it effectively ended.
ChapterBitcoin Hard Forks Explained
Episode#173 – Nic Carter: Bitcoin Core Values, Layered Scaling, and Blocksize Debates
PodcastLex Fridman Podcast
The debate between small blockers and those who want to increase data throughput centers around whether a layered approach or a capped system is the best for scaling Bitcoin.
52:39 - 58:15 (05:35)
Summary
The debate between small blockers and those who want to increase data throughput centers around whether a layered approach or a capped system is the best for scaling Bitcoin. Small blockers believe overwhelming the ability of regular people to ingest data will harm the ability to keep up with the state of the ledger, while those in favor of increasing data throughput believe the opposite.
ChapterBitcoin Hard Forks Explained
Episode#173 – Nic Carter: Bitcoin Core Values, Layered Scaling, and Blocksize Debates
PodcastLex Fridman Podcast
Hard forks are an expansion of protocol rules, while soft forks are a shrinking of protocol rules.
58:15 - 1:00:07 (01:52)
Summary
Hard forks are an expansion of protocol rules, while soft forks are a shrinking of protocol rules. Hard forks are also backwards incompatible, while soft forks are theoretically backwards compatible.