Author: Mike Hearn 2013-03-11 16:54:51
Published on: 2013-03-11T16:54:51+00:00
The author questions the relevance of demurrage in Bitcoin, as the fundamental rules will not be changing. They also argue that minimizing the size of the UTXO set is unnecessary, as it currently only takes up a few hundred megabytes and can easily fit into RAM or disk. If miners do become concerned about the working set size, they can set their own policies for what they confirm. The author suggests that banning micropayments would risk hurting interesting applications without providing any real benefit. Instead, there are less invasive changes for improving scalability, such as making transaction validation multi-threaded, transmitting merkle blocks, moving blocking disk IO off the main loop, and finishing payment protocol work.
Updated on: 2023-06-06T10:30:21.229652+00:00