Author: Peter Todd 2015-05-28 17:50:00
Published on: 2015-05-28T17:50:00+00:00
Gavin Andresen, a prominent Bitcoin developer, expressed his opinion on the current fee pressure in the network. He stated that block propagation should be made faster to eliminate the technical reasons for miners to produce small blocks. However, he believes that developers should not decide whether fees are too high or too low. A majority of hashing power is using Matt Corallo's block relay network, but some of the largest pools are not using it, and their rationale for not doing so is unknown. Block propagation is probably already close to optimal, and IBLT won't improve the situation much. Miners have started turning off validation to lower their latency, which has led to discussions about creating an "SPV miner" that skips validation while new blocks are propagating to shave off time.
Updated on: 2023-06-09T20:05:58.919804+00:00