Author: Peter Todd 2015-06-12 18:11:53
Published on: 2015-06-12T18:11:53+00:00
Jeff Garzik has proposed to remove the upper blocksize limit entirely and enforce a "soft" limit via miner vote. However, this mechanism doesn't provide any influence to users over the miner vote. To add user influence back, transactions can set a flag determining whether or not they can be included in a block casting a specific vote. Garzik's vote can be simplified to say that one of the nVersion bits votes for the blocksize to be increased or decreased by some fixed ratio. Transactions themselves can also vote for an increase or decrease using an nVersion bit. Miners will receive a monetary incentive via fees to vote according to user wishes. A "don't care" vote can be cast using an additional bit or signing the transaction with both versions. Different versions with different fees can be broadcasted via a mechanism such as replace-by-fee. John Dillon's proposal for proof-of-stake blocksize voting is also available.
Updated on: 2023-06-09T22:54:18.018452+00:00