New attack identified and potential solution described: Dropped-transaction spam attack against the block size limit

Summary:

Bob McElrath, in a post, talked about Hashcash, a technology that was invented years ago to deal with spam. He mentioned that smaller blocks should be mined down to the point of individual transactions and not relayed things that haven't been mined. As spam or transaction levels go up, mining targets for submission go up too. Peter Todd replied to Bob's post saying that Bitcoin can be thought of as a system that maintains a ledger for transferrable hashcash, which means transaction fees are paid in hashcash.

Updated on: 2023-06-09T22:37:56.869261+00:00