Author: ZmnSCPxj 2019-11-11 13:52:49
Published on: 2019-11-11T13:52:49+00:00
The fees paid to miners in Bitcoin are not fully known due to the possibility of side fees and fake transactions. However, mining fees are an anonymity technique and are economically incentivized. Block size increases do not necessarily mean scaling as they require more resource consumption. To address this issue, a proposal for Dynamic MaxBlockSize (DMBS) has been suggested. The DMBS adds a 3-byte variable factor to the white space in the current block which evaluates whether to increase or decrease the block size based on market demand. This approach provides a suitable middle ground without compromising existing security and addresses concerns dynamically. The software must evaluate the MaxBlockSize Variable and ActivateONBlock Variable from the most recent distributed blocks DMBS 3-byte value. The system looks forward and backward to provide a network time to synchronize. The proposal offers a way to adjust block size according to market demand while maintaining current rulesets.
Updated on: 2023-06-13T22:04:37.976911+00:00