Author: Matt Whitlock 2015-08-25 21:14:58
Published on: 2015-08-25T21:14:58+00:00
The discussion is about an approach to give the economic majority of coin holders a vote for the maximum block size. However, it is questioned what fraction of coin holders would vote and how many have the technical knowledge to make an informed choice. The comparison is made to polling Toyota truck owners on whether the 2017 Tacoma should increase its engine's cylinder displacement by 10%, which would not result in meaningful votes from ordinary users. The idea of allowing altcoins to determine the max block-size limit through market mechanisms is mentioned as a default mechanism for change, but it is not the least painful mechanism. The voters are unlikely to cast informed votes, and the vote is likely to have little participation and low-quality results. Nonetheless, stakeholder vote is considered important to check on miners' power.
Updated on: 2023-06-10T21:03:49.205311+00:00