Author: Upal Chakraborty 2015-08-19 17:21:52
Published on: 2015-08-19T17:21:52+00:00
The author of an email to the bitcoin-dev mailing list argues that keeping a reduction part is necessary for a demand-driven approach to block size. If the maximum cap is high but there are not enough transactions in the mempool, many miners will create small blocks. This would be problematic when block rewards become small and mining revenue becomes dependent on transaction fees. However, if there is a reduction, the maximum cap will come down soon, and all miners will see revenue from transaction fees again. The author proposes a slightly modified technical solution to this problem in algorithmic format, which involves taking the first 2000 of the last 2016 blocks to avoid data discrepancy among different nodes due to orphan blocks. It is assumed that a chain can not be orphaned after having 16 confirmation. The proposal details are available at http://upalc.com/maxblocksize.php. Another member argues that there is no need to reduce the maximum block size at all because it is just a maximum limit, not a required size for every block.
Updated on: 2023-06-10T20:07:33.031912+00:00