Author: oscar 2017-12-24 13:59:23
Published on: 2017-12-24T13:59:23+00:00
Damian Williamson, a developer, has expressed concerns about the profitability of wasting space on blockchain, which is currently an encouragement in place. He suggested that fees should be increased enough to discourage wasteful usage but not enough to make it profitable for big miners to waste space. In response, another developer proposed a solution that Williamson found too complex and instead suggested having nodes stop propagating transactions with fees over the max and miners reject blocks where coinbase > block reward + max fee rate * block size. Williamson believes this would incentivize efficient usage by both users and miners. However, he notes that unbounded fees together with small blocks and big miners introduce a terrible flaw in the incentives equilibrium. He suggests coupling his proposal with slowly increasing the block size with a process similar to difficulty adjustment.
Updated on: 2023-06-12T23:20:18.684416+00:00