Author: Natanael 2017-03-30 18:41:19
Published on: 2017-03-30T18:41:19+00:00
On March 30, 2017, an email was sent by Natanael discussing the block size dependent difficulty scaling and how a hardfork is required. The larger the blocks, the greater the difficulty, but it does not scale linearly. This means miners can take a penalty in difficulty to claim more high fee transactions in the same amount of time, effectively increasing their profits. When such profitable fees are not available, they have to reduce block size. Users pay miners to increase block size or do not pay, which reduces it. One solution to this issue would be getting a fee pool, which would require less hardfork code and more softfork code. However, the mining subsidy will partially reduce the effect until it reaches parity with average total fees.Instead of altering difficulty calculation, the percentage of the fees that miners get to claim vs what they have to donate to the pool based on the size of the block they generated could be altered. Larger blocks mean smaller percentages of fees. This is another way to pay for blocksize. On average, miners that generate smaller blocks take a share of what otherwise would be part of the mining profits of those generating larger blocks. Adjustments would need to be made according to usage, as the closer you are to the expected blocksize, the more you keep.
Updated on: 2023-06-11T23:02:23.353290+00:00