Author: Filipe Farinha 2015-06-24 02:02:51
Published on: 2015-06-24T02:02:51+00:00
The author of the text proposes a new approach to block size changes in the blockchain that would take into account real-time changes to the mempool. According to the author, the main proposals for block size changes are either based on predictions or a voting mechanism by a limited set of stakeholders whose interests may not be aligned with the rest of the community. The proposed solution involves adding a mempool_size field to each full-node that broadcasts a new transaction. As blocks are mined with this new data, all nodes can quickly reach consensus on the current average/median/etc mempool size and agree on a suitable periodic blocksize "re-targetting." This approach would enable all full-nodes, not just miners, to vote with their transactions, resulting in truly global consensus. The author suggests that this approach could prevent blindly changing the blocksize in anticipation of an unpredictable future.
Updated on: 2023-06-10T00:45:01.978630+00:00