Author: Eric Lombrozo 2015-06-13 22:24:26
Published on: 2015-06-13T22:24:26+00:00
Bitcoin users do not have a say in block size limits and it is the miners and Bitcoin node operators that bear the burden of managing large blocks. Jeff Garzik recently proposed that the upper blocksize limit be removed entirely, with a "soft" limit being enforced via miner vote, recorded by hashing power. Users can have influence over the miner vote by providing a way for transactions themselves to set a flag determining whether or not they can be included in a block casting a specific vote. One of the nVersion bits either votes for the blocksize to be increased, or decreased, by some fixed ratio (e.g 2x or 1/2x) the next interval. Transactions may only be included in blocks with an identical vote, thus providing miners with a monetary incentive via fees to vote according to user wishes. John Dillon's proposal for proof-of-stake blocksize voting is also discussed.
Updated on: 2023-06-09T22:57:14.051470+00:00