| >>When you blow up the transaction limit you physically centralize the verification process. You could 500X the transaction throughput and running a full node would only require a 25 Mbps internet connection. >>Bigger blocks propagate more slowly, and magnify the advantage of employing those kinds of undesirable behaviors. Miners do not propagate blocks all at once. They use propagation protocols like compact blocks to only propagate the transactions not already in other nodes' mempools: https://ieeexplore.ieee.org/abstract/document/8922597 The transactions fill the mempool over the course of the entire on average 10 minute duration between blocks, meaning that by the time a block is discovered, other nodes already have almost all of the transactions in that block. The 'validation free mining until the new block is fully propagated and validated' strategy further mitigates the competitive disadvantage miners face when receiving large blocks from other miners. All-in-all, centralization concerns do not justify preventing Bitcoin blocks from growing to meet market demand up until they reach at least 500 MB (ie. 3.3 MB/s of transaction throughput). The current 1 MB - or 1.6 MB assuming full SegWit adoption - limit, which only allows for 2 KB/s of transaction throughput, is absurdly inadequate, and makes Bitcoin's current energy consumption absurdly wasteful. |
Take a hint from every successful network that has ever networked since ever: hierarchy, extensibility, etc. Demanding that it all be crammed into a homogenous block is so obviously doomed to fail that you should be suspicious of the proponents' motives.