Author: Matt Whitlock 2015-06-12 18:52:31
Published on: 2015-06-12T18:52:31+00:00
In a conversation between Peter Todd and Matt Whitlock on June 12, 2015, they discussed the use of bits in voting for miners. Todd proposed the use of two bits to allow for more options in the voting process. The proposed encoding would be: "0 0" for no preference, "0 1" for keeping the limit the same, "1 0" for halving the limit, and "1 1" for doubling the limit. User transactions would follow the same format. Todd suggested taking the median of the three options and throwing away "don't care" votes entirely to make the vote meaningful. Whitlock corrected Todd's terminology and said that the plurality vote would result in keeping the limit the same. However, it is unclear what the median vote would be since there are four choices and an average of the two "middle" choices does not make sense.
Updated on: 2023-06-09T22:55:50.130399+00:00