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Block size increase

This is the most debated proposal for increasing blockchain performance (transaction processing throughput). Currently, Bitcoin can process only about three to seven transactions per second, which is a major inhibiting factor in adapting the Bitcoin blockchain for processing microtransactions. Block size in Bitcoin is hardcoded to be 1 MB, but if the block size is increased, it can hold more transactions and can result in faster confirmation time. There are several Bitcoin Improvement Proposals (BIPs) made in favor of block size increase. These include BIP 100, BIP 101, BIP 102, BIP 103, and BIP 109.

An excellent account of historic references and discussion is available at https://en.bitcoin.it/wiki/Block_size_limit_controversy ...

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