Author: Stephen Morse 2015-06-03 03:36:00
Published on: 2015-06-03T03:36:00+00:00
Vincent proposed two changes to the current voting system. Firstly, he suggested that votes need to be 100%, not 50.01%, in order to give small miners a fair chance as large miners tend to call the shots with a 50.01% vote. However, Stephen pointed out that having a situation where a minority of uncooperative or lazy miners don't add their votes to hold up progress can be problematic. He suggested that maybe 2/3 instead of 1/2 could be considered.Secondly, Vincent suggested that users who make transactions need to vote and a vote by a miner shouldn't count without user votes. This would ensure legitimate votes from miners through fee incentives. Cheating miners will be defeated by other miners who include those votes and take the fees. Wallet providers and exchanges are allowed to cast votes, but few wallets will implement prompts and will just auto vote. If users do not agree, they can switch wallets and vote with their wallet.However, Stephen mentioned that voting with your wallet is technically infeasible as miners can fill their blocks with any type of transactions, including their own specially designed transactions, and collect any fees from these transactions back into their coinbase transaction.
Updated on: 2023-06-09T21:58:30.797145+00:00