Bitcoin block size VS block weight. What's the difference?

Block size limit increase would be meaningful. Weight increase is just changing accounting units. Weight is not measured in megabytes, it's weight units. You can change weight without changing block size limit. You could say btc has 8 million weight units right now but no it does not increase tx throughput. Bcash's 8mb block size limit allows for way more transactions to be confirmed in a saturated network scenario. Bcash is not any "faster" however, unless their mining algo is fucked up, which wouldn't surprise me as they already broke it once with EDA.

On chain transaction "speed" thing.. First of all, transactions are not uniform in size. Using TPS is like measuring # of steps in a mile and would give you various answers depending on how big the steps are. Transaction is valid if it is included in a block. Blocks are found 10 min apart on average. Transaction "speed" does not make much sense since you're always ~10 min away from a confirmation. The issue arises when demand for block space is high and many transactions are waiting to be confirmed. Those who don't need fast confirmation, or rely on the wallet to guess fees may have to wait a long time for confirmation if there are lots of high fee transactions ahead of them. Those who are in a hurry and can look up the state of the network in real time, can include correct fee (which may be quite high) and be included in the next block. Transaction "speed" is a function of how many transactions are in the queue and how much the sender is willing to pay in fees.

/r/Bitcoin Thread Parent