I’m adding entries to my list of objections to raising the maximum block size as I run across them in discussions on reddit, in IRC, etc.
This is the technical objection that I’m most worried about:
More transactions means more memory for the UTXO database
I wasn’t worried about it yesterday, because I hadn’t looked at the trends. I am worried about it today.
But let me back up and explain briefly what the UTXO database is. UTXO is geek-speak for “unspent transaction output.” Unspent transaction outputs are important because fully validating nodes use them to figure out whether or not transactions are valid– all inputs to a transaction must be in the UTXO database for it to be valid. If an input is not in the UTXO database, then either the transaction is trying to double-spend some bitcoins that were already spent or the transaction is trying to spend bitcoins that don’t exist.
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