Author: Pieter Wuille 2012-12-03 12:05:41
Published on: 2012-12-03T12:05:41+00:00
Michael Gronager and Jan have noticed that the amount of dust in the blockchain is growing. Currently, 11% of unspent transaction outputs (UTXO) are of 1 Satoshi (0.00000001BTC), 32% is less than 0.0001BTC, and 60% is less than 0.001BTC. Gronager suggests introducing demurrage as a way to recycle pennies over time. The proposal is simple; UTXOs age out if not re-transacted - the smaller the coin, the faster the aging. However, Pieter feels that changing such a policy right now is not what people signed up for when they started using the system. He also sees no way to implement this without a hard fork, which would require planning at least 1-2 years in advance. Personally, he thinks the best solution is to change the mining policy to prioritize transactions that reduce the number of UTXO’s.
Updated on: 2023-05-19T16:16:00.585133+00:00