Author: Michael Gronager 2013-11-07 15:53:12
Published on: 2013-11-07T15:53:12+00:00
In this context, Michael has presented a framework for approximating minimal fees and optimal block size based on propagation time. He believes that if the propagation time is reduced, so can be the fee. Additionally, there is another parameter - time between blocks, which currently is more like 400 than 600 due to current hash acceleration. Meanwhile, Mike Hearn suggests that tracking and recording block propagation times, orphan stats per size bucket, and other things on the network would help users decide proper settings. Pieter Wuille corrected himself and stated that C. Decker's paper used measurements for propagation delays for blocks between September and November 2012, which was before the 0.8 release, to calculate fees. Finally, Michael requests someone from academia to use his outline and perform a full probabilistic analysis of the model.
Updated on: 2023-06-07T19:55:58.492409+00:00