Author: Hector Chu 2015-08-08 15:23:41
Published on: 2015-08-08T15:23:41+00:00
The writer suggests that a vote which is free can easily be bought and manipulated, making it harder to determine the true consensus. In order to make the vote more accurate, the cost of the vote should be proportional to its weight. The writer likens this concept to how markets determine the clearing price for a good, where votes in markets cost money. In response to Hector Chu's question about John Dillon's proposal, Peter Todd explains that the proposal is essentially to have the economic majority give miners permission to raise the blocksize, and making the vote costly would go against the design intent of accurately capturing the broadest possible economic consensus.
Updated on: 2023-06-10T18:56:47.117299+00:00