Author: Stephen 2015-06-14 04:16:53
Published on: 2015-06-14T04:16:53+00:00
Jeff Garzik proposed a mechanism to remove the upper block size limit and enforce a "soft" limit through miner vote, recorded by hashing power. However, this mechanism would not work well in practice as users prefer to make transactions without worrying about technicalities. Stakeholders' fees are marginal compared to the block size subsidy, and miners would likely vote for whatever they think is best. Users are incentivized to agree with miners because miners provide them with confirmations. Fees do not provide sufficient incentives for miners to be in agreement with users. Transactions can determine whether or not they can be included in a block casting a specific vote, but this proposal would not be ideal in practice. John Dillon also proposed a proof-of-stake block size voting system.
Updated on: 2023-06-09T22:54:48.536370+00:00