Bitcoin block is the storage location where the network data of the Bitcoin is recorded in a permanent way. Not just this, the Bitcoin block also keeps a record of the currently happening and past transactions in the Bitcoin mining pool to serve the same aim of being a public record book. The Bitcoin block also acts as a linking constituent of the blockchain by being the smallest node present in the mining pool. Whenever a particular block is found by the miners who are doing mining; it paves the way for the upcoming block present in the blockchain. An algorithmic capping has been put on the memory size of the block which is currently 1 MB. Recently, a proposal was made to increment the memory size of the Bitcoin block to make it to 2 MB. It was done with the intention of incrementing the computing power needed to make up the database of all the transactions happening in Bitcoin. If this is implemented it shall drastically improve the capacity of the algorithm.
As was espoused in the original blueprint for the Bitcoin
that it shall remain a decentralized and dissipated network of nodes to smoothen the process of transactions; any decision or proposal cannot be made unilaterally and it shall be binding to have a consensus before implementing any amendment. Whenever the proposed amendment could not gather the required consensus and the group which had proposed the altercation; still wants to move on with the change, shall have to fork out the whole algorithm. This process of forking has given birth to the Bitcoin Cash
- the hard variant of the Bitcoin.
This forking process requires that the Bitcoin shall run over different divided networks and altogether different standards. But this is inevitable as if one group wants to really move on then without the consensus it cannot alter the underlying mechanism of the Bitcoins and the only recourse left with it; is the forking of the Bitcoin block.