Author: Jorge Timón 2015-05-07 18:05:22
Published on: 2015-05-07T18:05:22+00:00
In a discussion about fee dynamics, Gavin Andresen shared a blog post with graphs to help illustrate what is happening with fees. He suggests that we don't need 100% full one megabyte blocks to start learning about what is likely to happen as transaction volume rises and/or the one megabyte block size limit is raised. The fact that increasing fees increases the probability of getting included faster is a good thing, while scarce space would increase fee competition. This diminishes the argument for maintaining the limits longer to observe the results of more scarce space.The writer believes that maintaining a lower policy limit is a good idea, even if it's not used immediately. For example, choosing the 20 MB consensus limit, and maintaining the policy limit at 1 MB or moving it to 2 MB, slowly moving it up later as needed without requiring everyone to upgrade. While not all miners have to follow the standard policy, it is something that could be a reasonable compromise for that concrete line of arguments.
Updated on: 2023-06-09T19:43:55.203757+00:00