Author: Mike Hearn 2015-07-31 14:58:59
Published on: 2015-07-31T14:58:59+00:00
The discussion revolves around the impact of more users or more nodes on mining decentralization. The correlation between the size of an ecosystem and the interest in participating is highlighted, with Bitcoin being cited as an example of its growth in users and miners. A simulation was conducted by Gavin to determine a reasonable block size of 20MB to target, which can fit into the typical data cap for a full node from home. The influence of block size on mining centralization is debated, with one person arguing that bigger sizes lead to worse mining centralization, while another disagrees citing the increase in hash power and number of miners in the network. They suggest that finishing, documenting, and making the UX slick for a getblocktemplate based decentralized mining pool would be a more effective means of improving mining decentralization rather than lowering the block size. The idea of removing the limit altogether was explored but found to be not feasible due to physical limitations and code constraints. Finally, it is argued that a tiny high-value-transaction only currency cannot exist without useful infrastructure such as payment processors, cold storage providers, and TREZOR manufacturers.
Updated on: 2023-06-10T04:31:06.829839+00:00