Author: Aaron Voisine 2015-05-08 20:17:09
Published on: 2015-05-08T20:17:09+00:00
The co-founder and CEO of breadwallet.com, Aaron Voisine, has voiced his support for Gavin's 20Mb block proposal, stating that fee pressure is necessary to economize on scarce resources. However, he argues that placing hard limits on the block size would severely impact the users' experience. Instead, he suggests that when users pay too low a fee, they should either see immediate failure as they do now with fees that fail to propagate or see degraded performance and long delays in confirmation but eventual success. Voisine believes that the worst scenario would be for transactions to propagate, hang in limbo for days, and then fail. He thinks that increasing the 1Mb block size limit is the simplest way to avoid this undesirable scenario for the immediate future. Furthermore, he suggests playing around with improved transaction selection for blocks and encouraging miners to adopt it to discourage low fees and create fee pressure. These could involve hybrid priority/fee selection so that low fee transactions see degraded performance instead of failure. This approach would be conservative and low risk.
Updated on: 2023-06-09T19:38:41.347426+00:00