Bitcoin has taken another big step in returning to its original protocol and pursuing its path of massive scaling. The Bitcoin SV Node team are planning a July 24 upgrade of the Bitcoin SV (BSV) network, nicknamed the “Quasar” protocol upgrade. With the upgrade, the BSV network will have a significantly higher default block size “hard cap” of 2GB.
Previously outlined by the Bitcoin SV Node team’s July 13 blog post, “Quasar upgrade 24th July recommendations – roadmap to Genesis part 2,” the only change of the update is to increase the hard cap on block sizes; however that is a significant change indeed. The previous hard cap of 128MB has already been hit by the BSV community, with real world usage reaching that limit several times in the past four months.
In testing on the BSV Scaling Test Network, BSV has already proven to be capable of mining much larger blocks, with 1.4GB blocks mined in testing. Now that larger limits are rolling out to the mainnet, the whole world can experience the benefits of massive blockchain scaling made possible on BSV. The greater block capacity will enable 1,000+ transactions per second on the BSV network, and even higher with more technical improvements.
As the BSV Node team has noted, the 2GB block size limit is a default “hard cap.” Miners are free to set their hard cap to a lower level. In fact, miners representing a significant portion of the BSV network mining hash have signaled that they will set their hard cap to 512MB, which would form a different form of hard cap—the “consensus” hard cap. For the BSV Node team’s recommendations and instructions for mining nodes and anyone else who runs an instance of Bitcoin SV software (“blockchain listeners” who do not write to the blockchain,