Post
Topic
Board Development & Technical Discussion
Re: Individual Block Difficulty Based on Block Size
by
grau
on 19/02/2015, 20:55:05 UTC
I think we could do a lot to mitigate the second (see https://gist.github.com/gavinandresen/630d4a6c24ac6144482a for a partly-baked idea).

There is contradiction between Bitcoin's use as a settlement system and its unconstrained ability to revise its history (reorg).

The ability of revision will have to be constrained, as society will not accept a "technical subtlety" to override settlement of contracts that are considered final with "reasonable care".

Settlement cycles in the current banking system repeat typically a few times a day. Bitcoin would not be deemed suitable in the same context without a similar frequency of final settlement. This means reorgs that would revise the history more than a few hours back would not be accepted, at least not automatically. This makes me think that automated Bitcoin reorgs should be limited to 6-72 blocks.