Author: Warren Togami Jr. 2016-01-27 23:11:04
Published on: 2016-01-27T23:11:04+00:00
In an email exchange between Luzius Meisser and Warren, the two discuss the viability of the Flex Cap approach to block size scaling in Bitcoin. Meisser expresses his agreement with the approach, but also notes that it must not rely on significant block subsidies in order to be a long-term solution. Warren suggests an alternative variant of the approach, which allows miners to pay with a higher difficulty target instead of deferring subsidy to later blocks. The discussion then shifts to the suboptimality of proposals like BIP100, where the block size is subject to a vote by miners. Warren argues that this type of vote is costless and only aligns with the miner's marginal cost, rather than the marginal cost to the entire flood network. He believes that the Flex Cap approach is superior because it has an actual cost associated with it, allowing for block size to grow with actual demand.
Updated on: 2023-06-11T03:21:45.114098+00:00