Published on: 2017-02-13T11:21:44+00:00
The discussion revolves around the control of miners over the block size limit in Bitcoin. The proposal of Block75 algorithm is analyzed, which aims to manage the maximum block size without human intervention. However, concerns are raised about the potential centralization and loss of transaction fees that may arise from increasing the block size. The debate also delves into the definition of "miner spam" and the need for evidence to support this claim. The importance of miners in determining the block size limit is emphasized, as they have a financial incentive to produce bigger blocks but also face the risk of orphaned blocks. A discussion on the bitcoin-dev mailing list focuses on whether the maximum block size limit should be part of the protocol or set by node operators as a policy. It is argued that rejecting a block based on a condition falls under the consensus protocol, while policies can vary between nodes without affecting block validity. The proposal of Block75 is criticized for giving miners complete control over the limit, contradicting the purpose of the block size limit to restrict miners and prevent spam. Another email exchange highlights the question of whether math or humans created Bitcoin. The writer argues that everything in Bitcoin is math except for the block size limit, which was a temporary solution at the time. The suggestion of a simple policy set by node operators is deemed unfeasible due to differing opinions and potential disasters. The role of miners in deciding the block size is discussed, as they earn more fee-based income with bigger blocks but also take on more risks.In a bitcoin-dev thread, a user proposes Block75 as a means to manage the maximum block size without human intervention. Some users express doubts about the proposal, stating that it gives miners control over the limit, which goes against the purpose of restricting miners. The importance of preventing a single nefarious miner from creating an overly large block is emphasized.The Block75 algorithm has undergone updates based on community feedback and simulations. The new algorithm aims to keep blocks 75% full by adjusting the maximum block size every 2016 blocks. The activation of the algorithm would require support from the majority of the last 1,000 blocks mined. The goal is to prevent a small mining pool from blocking the adoption of Block75 and mitigate risks associated with a hard fork. Questions are raised regarding compatibility with SegWit and the need for a minimum maximum block size. The community is encouraged to provide input on how the algorithm would behave in practice. The hope is that 2017 will mark the end of the block size debate.
Updated on: 2023-08-01T19:22:01.373245+00:00