Author: Tier Nolan 2014-04-23 22:26:08
Published on: 2014-04-23T22:26:08+00:00
In an email exchange between Gregory Maxwell and an unknown recipient, Maxwell proposes a method of forcing transactions through the P2Pool system. He suggests setting the share-block size to 16kB and allowing each share-block to append up to 16kB on the previous block. This would keep the bandwidth the same but reduce the average block size to 512kB. He also discusses the potential for centralization pressure if the latency or data rate requirements of the share chain are too large relative to ordinary mining. To mitigate this, he suggests implementing "colours" for blocks and transactions, which would allow for blocks to be created in advance and reduce latency. However, wallets would need to ensure that they have coins for each of the 16 colors, as spending the wrong color would add 16 block times of latency. In a shop setting, QR codes could be used to set up channels with the shop and enable fast confirmation of transactions.
Updated on: 2023-06-08T20:59:40.850774+00:00