First Two-Megabyte Blocks Mined in Bitcoin Blockchain

Blocks of more than two megabyte size were mined in bitcoin blockchain.

Before an update of bitcoin protocol Segregated Witness (SegWit) was introduced, the size of a block was limited to one megabyte of data. For now the limitation is still in place but SegWit removes transaction signatures from the block which in theory can increase the maximum size of a block to four megabyte of data.  

But the fact that this update is slowly adopted by the main players in the industry leaves the size of a block just a little bit more than a megabyte.

The Coin Shark has already written that Jameson Lopp, the chief engineer and BitGo architecture developer, advocates for not using Blockchain, Coinbase and Gemini because they don’t want to implement SegWit for reducing commisions and load on bitcoin blockchain.

 

 

 

 

 

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