Author: Damian Williamson 2017-12-07 06:34:39
Published on: 2017-12-07T06:34:39+00:00
The email exchange between Jim Renkel and Damian Williamson discusses the recent BIP proposal, UTWFOTIB (Use Transaction Weight For Ordering Transactions In Blocks). Jim questions whether miners would follow the proposal as it is not enforceable and could be implemented on an individual basis. Damian suggests that block sizes based on transaction weight could be implemented if the transactions conform to a probability distribution curve or fee distribution curve. The proposal aims to maximize transaction reliability and total fees paid per block without reducing reliability. The protocol would determine the target block size using current transaction pool size x (1/(144 x n days)) = transactions to be included in the current block. Assigning each transaction a transaction weight based on fee and time waiting for the transaction in the pool would determine the likelihood of inclusion until the target block size is met. The proposed solution could provide additional block entropy and greater security. However, further programming is required before it can be implemented.
Updated on: 2023-06-12T22:35:08.325176+00:00