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



Summary:

The conversation between Gavin Andresen and Dave Hudson discusses the possibility of a block maker orphaning its own blocks. Hudson argues that unless the block maker has an infinitely fast connection to its hashpower or its hashpower is not parallelized at all, it will orphan its own blocks because two hashing units will find solutions in the time it takes to communicate that solution to the rest of the hashing units. However, Andresen points out that the block maker won't publish the second block it finds for the same set of transactions, so it won't orphan its own block. He also notes that even if it does, it still doesn't matter because the block maker still gets the block reward irrespective of which of the two solutions are published. Ultimately, the issue isn't about which hash wins, but rather who gets paid as a result.


Updated on: 2023-06-10T18:10:09.598476+00:00