Author: Jeff Garzik 2015-06-15 02:28:02
Published on: 2015-06-15T02:28:02+00:00
In an email thread, Adam Back suggests that conversations about Jeff Garzik's outline draft BIP 100 should be held on the mailing list. The latest draft includes an explicit 32MB ceiling and users will require a second hard fork to opt into growth beyond that limit. Adam also states that miners should not be given a vote with no costs to cast as their interests are not necessarily aligned with users or businesses. He proposes Greg Maxwell's difficulty adjust as an alternative, which includes a growth limiter. However, he highlights issues with "paying with difficulty" and instead suggests paying bitcoins to future miners. Adam believes there is a natural block size equilibrium ceiling and worries about miners squeezing the market by maximizing their fee income through constrained block sizes and competition at the low end. He suggests layering models that uplift security to higher layers, smart-contracts, and protocols that improve algorithmic complexity beyond O(n^2) in users like lightning. Finally, he refers to several links related to original proposal comments and growth limited proposals for flexcap by Greg Maxwell.
Updated on: 2023-06-09T23:07:26.418321+00:00