Author: Sergio Demian Lerner 2016-11-25 22:31:22
Published on: 2016-11-25T22:31:22+00:00
Bitcoin developers are discussing the possibility of unlimited block size in Bitcoin Core implementation of the consensus protocol. Sergio Demian Lerner expressed concern about the riskiness of this change without detailed analysis, to which Tom Zander replied that he did not see it as a change, but rather miners would simply choose a rule that maximizes their revenue or measure of performance. The concept of proof-of-work is that the longer a chain, the higher probability that that one will be extended for the simple reason that another chain will have to show a higher amount of proof of work to 'win'. The video Peter sent does not confirm this, as it says that miners will mine on top of a block only if the "gate" has been opened for that block (e.g. there is additional blocks to push a big block). The other fact stays the same as well, if you protect from reorgs by expecting more confirmations. Nothing changes here either. The basic idea that we have a 3 or 4 deep fork is a huge problem in Bitcoin.
Updated on: 2023-06-11T20:40:32.458110+00:00