Author: Natanael 2017-03-30 09:34:31
Published on: 2017-03-30T09:34:31+00:00
The author proposes a set of ideas to incentivize behavior improvement in Bitcoin. The first idea is called Expedience fees, which would allow transactions to have a second fee type that would grant miners the ability to claim a "best-before" block number for a given function that describes the decline of the fee value for every future block. When a transaction is processed late, the remainder of the expedience fee output is returned to the specified address among the inputs/outputs. The second idea is called Fee Pool, which is intended to act as a "buffer" to smooth out fee payments and prevent deliberate forking to steal fees. The third idea is Block size dependent difficulty scaling, which proposes that larger blocks mean greater difficulty, but it doesn't scale linearly. In order for a miner to profit from additional transactions, their fees must exceed the calculated cost of the resulting difficulty penalty to make it worth creating a larger block. The author believes that combining Expedience fees with Block size dependent difficulty scaling makes it even more effective.
Updated on: 2023-06-11T23:02:31.566770+00:00