Author: Jean-Paul Kogelman 2015-07-24 00:45:04
Published on: 2015-07-24T00:45:04+00:00
The quality of service in the Bitcoin network is determined by the fee paid by the user. Miners can set different values for X, Y and Z satoshi per kb to decide which transactions to include in the block. The block count starts when a transaction is first seen. The market develops as miners start setting different values for fees and adding more transactions to their blocks. If miners stick to their guns, their influence on the fees will be proportional to their hashing power. Jean-Paul Kogelman suggests that a fair fee market will develop if miners start offering quality of service at multiple tiers rather than relying on the threat of exclusion. However, Eric Lombrozo questions the meaning of QoS in this context since either a transaction is included or it is not. He argues that there is no scope for upgrading to a better service level. Kogelman recommends adding better QoS tools for miners and extending the block size cap where possible to create a healthy fee market.
Updated on: 2023-06-10T03:15:13.133084+00:00