On the optimal block size and why transaction fees are 8 times too low (or transactions 8 times too big)



Summary:

In a Bitcoin development mailing list, a user expressed his opinion that helping miners figure out the propagation/fees tradeoff is not possible until developers themselves understand it better. He suggests that developing a server which tracks and records block propagation times, fees passed up per block, orphan stats per size bucket, etc. would be tremendously helpful. In a subsequent email, Pieter Wuille corrected himself about C. Decker's paper using measurements for propagation delays for blocks 180000-190000 between May and July 2012. The correct measurement data used was from blocks 20000-210000, September-November 2012, before the release of 0.8 version. The email also included a link to November webinars for C, C++, Fortran developers to accelerate application performance with scalable programming models and explore techniques for threading, error checking, porting, and tuning.


Updated on: 2023-06-07T19:55:02.529211+00:00