Author: jl2012 at xbt.hk 2015-08-07 05:20:21
Published on: 2015-08-07T05:20:21+00:00
A miner having 95% hashing power would have a 95% chance to find the next block and collect the penalty, which is biased against small miners. A suggestion was made to require miners to burn the penalty instead. In a proposal sent to bitcoin-dev in 2015, Wes Green suggested allowing any miner to double the block size at any given time but penalize them using the normal block reward. Whatever percentage increase the miner makes over the previous limit is taken from both the normal reward and fees, and the leftover is rewarded to the next miner that finds a block. This system would encourage block size growth due to organic growth, and the penalty would encourage it to be slow as to still keep reward high and preserve ROE. The proposal aims to force miners to hold the whole blockchain because SPV does not allow seeing all transactions in a block. By doing this, miners would also have an eye on blockchain size and wouldn't want it getting too huge too fast outside of Moore's law.
Updated on: 2023-06-10T18:22:46.775094+00:00