Author: Pieter Wuille 2015-08-01 21:05:10
Published on: 2015-08-01T21:05:10+00:00
On August 1, 2015, John T. Winslow proposed a solution for the block size increase in the bitcoin-dev forum. He suggested that there should be a dynamic function for the maximum block size that would preserve the scarcity of transaction capacity to encourage a fee market while allowing more transactions when needed. However, Pieter disagreed with this notion of "needed" and said that available space should grow with technology to keep the relative costs to the ecosystem for maintaining a decentralized system constant. Pieter also mentioned that a fee market is not the goal but a healthy outcome. Furthermore, he argued that the limit to scalability is set by the requirements of a decentralized system, and its demand cannot change that. When John T. Winslow proposed to take the 6-month average non-zero transaction fee block size and multiply it by 1.5 every month-end, Pieter pointed out that it could be easily gamable by miners by filling the blocks with their own transactions.
Updated on: 2023-05-19T20:56:57.369499+00:00