Author: Nicolas DORIER 2015-05-07 23:14:22
Published on: 2015-05-07T23:14:22+00:00
The author proposes a solution to the block size problem that would permanently fix it without controversy and be immediately applicable. The proposed solution is based on objectives such as achieving agreement without drama, relieving core devs from the central banker role, and promoting more decentralization. The author suggests rejecting arguments based on economical, political, and ideological principles about what Bitcoin should become, and instead making decisions only for technical and decentralization considerations. The proposed solution involves using block voting, where miners give the size of the block they would like to have at the next deadline, and the median of these votes is implemented as a new block size limit. This solution would address all the author's points, get reasonable consensus, be agreed in one year, and not require any politics or central banking decisions by developers. However, some unknowns include the effect on Bitcoin core stability and whether a better statistical function is possible. The author also discusses the peculiarity of TCP backoff game and the importance of avoiding decisions based on maximizing metrics rather than purely technical considerations.
Updated on: 2023-06-09T20:00:28.695382+00:00