"A Transaction Fee Market Exists Without a Block Size Limit"--new research paper suggests



Summary:

On 4 August 2015, Gavin Andresen via bitcoin-dev wrote about the possibility of block makers orphaning their own blocks. Dave Hudson had suggested that a block maker, such as a pool or aggregation of pools, does not orphan its own blocks. However, Andresen pointed out that this is not strictly true since two hashing units could find solutions in the time it takes to communicate that solution to the block maker and to the rest of the hashing units. This led to a discussion about the advantages of putting lots of hashing power physically close together, with Andresen suggesting that it would be a fine topic for another paper.However, someone replied to Andresen's message, pointing out that his understanding of Bitcoin and mining was flawed and accusing him of deliberately lying. The person suggested that Andresen's conduct was toxic to the development mailing list discussion, and urged him to leave.


Updated on: 2023-06-10T18:11:35.189339+00:00