Author: Aaron Voisine 2015-05-29 17:45:39
Published on: 2015-05-29T17:45:39+00:00
The email thread discusses potential solutions for the issue of transaction fees and how to create fee pressure on the Bitcoin network. One suggestion is to have a dynamic maximum block size limit based on recent history, with an average over the last 144 blocks calculated at every block. This would create more fee pressure as miners would be squeezing out transactions and putting pressure to increase fees. Other proposed changes include making the default mining policy for Bitcoin Core neutral and using a formula for size instead of bytes-on-the-wire to discourage bloating the UTXO set. The objection to this proposal is that it gives miners complete control over the maximum block size, but the author believes that this worry is unjustified as there is still an incentive for miners to keep their blocks small even when there are fee-paying transactions waiting to be confirmed.
Updated on: 2023-06-09T20:06:56.602972+00:00