Author: Sergio Demian Lerner 2016-11-25 01:39:05
Published on: 2016-11-25T01:39:05+00:00
The email conversation starts with Sergio asking Peter about the acceptance of payment in BU when the gate policy of 51% miners is not known. He presents a scenario where an exchange receives a big block and three small blocks and an alternate chain of three small blocks, where the first is longest but the second may be the one 51% of the miners will extend. The problem is that if the maximum acceptance depth of the majority of miners is higher than six blocks, accepting a transaction with six confirmations is risky. Sergio suggests that miners should advertise their gate block size and acceptance depth in their coinbase field to provide some clarity. Peter responds by providing a link to an article that explains how Bitcoin Unlimited’s excessive-block logic works from the perspective of a single node. He mentions that BU's market-based solution to the block-size limit is gaining support from node operators and miners. Peter also hopes to write a follow-up article describing how this “node-scale” behavior facilitates the emergence of a fluid and organic block size limit at the network scale. There is also a mention of game-theoretic analysis of confirmation blocks and their probabilities in BU being needed before unlimited block size can be considered a safe change for Bitcoin.
Updated on: 2023-06-11T20:39:59.221786+00:00