Author: Jorge Timón 2015-08-11 19:45:35
Published on: 2015-08-11T19:45:35+00:00
In an email from August 2015, Michael Naber discusses the cost of achieving global consensus and how market forces will ensure that supply meets demand. He argues that assuming a block size maximum consensus rule is maintained, the market will adapt to whatever maximum size is imposed by consensus rules. Currently, with the consensus block size maximum, the market has settled on a minimum fee of zero satoshis per transaction. Naber believes that the consensus maximum should not be based on current or projected demand, only on centralization concerns. Gavin advocates for a larger block size maximum of 20 MB, but Naber disagrees, as he believes it could worsen mining centralization and centralization in general. Overall, the main source of disagreement between parties is how the maximum block size limits centralization.
Updated on: 2023-06-10T18:32:51.084831+00:00