Author: Pieter Wuille 2015-08-10 22:31:33
Published on: 2015-08-10T22:31:33+00:00
In this email exchange, Sergio Demian Lerner discusses the improvement of the ratio since miners began using TheBlueMatt relay network, which has alleviated some centralization pressure. However, he argues against reducing interblock times as it could lead to other downsides. Lerner also mentions that SPV mining is impossible to avoid and must exist for Bitcoin to be incentive-compatible. He argues that it follows directly from the cheating cost and that the incentive will stay until there is no subsidy. Additionally, he proposes coding "instant" mining into Bitcoin Core, but Greg Maxwell points out that it amplifies selfish mining. Michael Rudy adds that a higher block rate means lower variance, which is good for miners, and a lower average block interval strengthens Bitcoin's value proposition.
Updated on: 2023-05-19T21:29:57.916652+00:00