Author: Natanael 2017-03-31 04:15:17
Published on: 2017-03-31T04:15:17+00:00
The email thread discusses the idea of block size dependent difficulty scaling and how a hardfork might be required. The larger the block size, the greater the difficulty, but not in a linear fashion. Miners can take a penalty in difficulty to claim a greater number of high fee transactions in the same amount of time, which increases their profits. Users pay miners to increase block size, but when profitable fees aren’t available, they have to reduce block size. A fee pool could simplify this process, with less hardfork code and more softfork code. However, the effect will be partially reduced by the mining subsidy until it reaches parity with average total fees. The percentage of fees that miners get to claim versus what they have to donate to the pool based on the size of the block they generated can be altered, with larger blocks resulting in smaller percentages of fees. This is another way to pay for block size, with miners generating smaller blocks taking a share of what would otherwise be part of the mining profits of those generating larger blocks. The expected block size calculation needs to be adjusted according to usage.
Updated on: 2023-06-11T23:03:01.999348+00:00