Author: Peter R 2015-08-30 01:59:58
Published on: 2015-08-30T01:59:58+00:00
The email conversation between two individuals, Greg and Peter R, has been made public by Peter R due to Greg forwarding their private conversation without permission. The conversation revolves around a proof presented by Peter R that makes simplifying assumptions in order to understand the dynamics of the transaction fee market. Greg deems the proof "problematic" and of little practical relevance under reasonable assumptions. However, Peter R argues that the proof assumes reasonably that block solutions contain information about the transactions included in a block and thus the fee market will remain healthy according to the definitions given in his paper. Peter R also states that Greg is imagining an academic scenario where all of the block solutions contain no information at all about the transactions included in the blocks which would render the fee market unhealthy but would require miners to relinquish their ability to construct blocks as per their volition, leading to centralization of the system. Peter R concludes by saying that he looks forward to reading a white paper from Greg that shows under what network configuration his results don't hold.
Updated on: 2023-06-10T21:30:27.868542+00:00