Author: Matt Corallo 2015-05-29 23:25:27
Published on: 2015-05-29T23:25:27+00:00
In a discussion on Bitcoin's block size, Gavin Andresen responded to Matt Corallo's comment that none of the proposed solutions for decreasing block propagation latency have been implemented yet. Andresen argued that if block propagation isn't fixed, miners will create smaller blocks and thus the max block size is irrelevant. He also addressed concerns about bigger miners getting an advantage and pointed out that little miners are not optimizing for relay times and do not calculate an optimal block size based on this. Additionally, he mentioned that transaction fees would become an important source of revenue for miners once the block reward goes away. Corallo, on the other hand, argued that increasing the blocksize may lead to centralization and discourage scaling technologies from being developed. He added that better conclusions are needed regarding long-term incentives within the system.
Updated on: 2023-05-19T20:14:09.892242+00:00