Author: Pieter Wuille 2015-12-16 21:36:09
Published on: 2015-12-16T21:36:09+00:00
In this email exchange, Jeff Garzik proposed defining the virtual_block_size as base_size plus witness_size * 0.25 and limiting virtual_block_size to 1M in order to create a single variable to optimize for. However, Pieter argued that there are two separate sets of economic actors and levels of contention for each set of space. He gave an example where miners would be incentived to accept witness transactions as it allows more transactions to fit within the 1M limit. Therefore, he suggested that the best strategy for miners is always to maximize fee per virtual size.
Updated on: 2023-05-19T22:53:22.739304+00:00