Author: Natanael 2019-04-07 18:52:30
Published on: 2019-04-07T18:52:30+00:00
On April 7th, 2019, simondev1 submitted a new Bitcoin Improvement Proposal (BIP) to the bitcoin-dev mailing list. The proposal suggests using the logarithm of transaction fees to limit block size in order to keep block space small and prevent spam transactions. The BIP also includes specifications for how each transaction should fit into a block, with a formula based on the input variable "FeeInSatoshiPerByte." Transactions would be sorted by their fee per byte and added to a block in order of lowest fee first, with the block size being validated as each transaction is added. The proposal suggests that this change could be implemented through a soft fork or a hard fork, depending on whether or not the old hardcoded block size limit is kept.
Updated on: 2023-06-13T18:12:57.822744+00:00