Author: Martin Stolze 2017-03-27 21:11:38
Published on: 2017-03-27T21:11:38+00:00
The discussion is about the idea of transaction tiering and the possibility for users to choose where they transact. The current state of Bitcoin does not allow users to choose their place of business, so the conversation revolves around creating an added feature that would enable them to do so without any compatibility problems or forks. The term "miner" is discussed, with one participant suggesting that it be replaced with "block producer" or "block generator." Another participant notes that miners are incentivized not to relay higher fee transactions, but users can detect this behavior and withdraw their business accordingly. The conversation also delves into the idea of a block space authority, which could govern a particular block and include a user's transaction. This leads to a discussion on the legitimate authority of nodes in the network and how it can be mapped to terminology in politics, such as proposing, approving, or rejecting changes. The conversation concludes with a hypothetical scenario demonstrating how transaction tiering could motivate transaction processors to behave in accordance with user interest.
Updated on: 2023-06-11T22:20:35.890327+00:00