Author: ZmnSCPxj 2020-09-30 06:31:41
Published on: 2020-09-30T06:31:41+00:00
The author suggests that block creation times can be sped up, as proof-of-stake (PoS) networks have already proven that conformations can be done in a minute or less. However, increasing the block rate may lead to "racing" in mining which is highly risky. The average time to propagate to all miners should be negligible to the average inter-block time. Efforts like compact blocks and FIBRE are necessary to keep the propagation time negligible. Additionally, inter-block time may need to be increased in consideration of interplanetary communications times, otherwise Bitcoin would dangerously centralize around Earth. The author also points out that most PoS schemes do not involve "racing." Changing inter-block times is not possible as a softfork unless the timewarp bug is abused. The preferred approach would be to close the timewarp bug, in which case increasing the block rate would not be doable as a softfork anymore. However, the author believes that this opens doors for developers to build an even better system with incremental soft-forks.
Updated on: 2023-06-14T15:41:29.977324+00:00