Ninjastic
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Board Development & Technical Discussion
Merits 2 from 1 user
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BIP 106: Dynamically Controlled Bitcoin Block Size Max Cap
by
upal
on 17/08/2015, 01:26:59 UTC
⭐ Merited by ETFbitcoin (2)
I have tried to solve the maximum block size debate in two different proposal.

i. Depending only on previous block size calculation.

ii. Depending on previous block size calculation and previous Tx fee collected by miners.


BIP 106: https://github.com/bitcoin/bips/blob/master/bip-0106.mediawiki

Proposal in bitcoin-dev mailing list - http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010285.html


Proposal 1: Depending only on previous block size calculation

The basic idea in alogorithmic format is as follows...

Code:
If more than 50% of block's size, found in the first 2000 of the last difficulty period, is more than 90% MaxBlockSize
    Double MaxBlockSize
Else if more than 90% of block's size, found in the first 2000 of the last difficulty period, is less than 50% MaxBlockSize
    Half MaxBlockSize
Else
    Keep the same MaxBlockSize


Proposal 2: Depending on previous block size calculation and previous Tx fee collected by miners

The basic idea in alogorithmic format is as follows...

Code:
TotalBlockSizeInLastButOneDifficulty = Sum of all Block size of first 2008 blocks in last 2 difficulty period
TotalBlockSizeInLastDifficulty = Sum of all Block size of second 2008 blocks in last 2 difficulty period (This actually includes 8 blocks from last but one difficulty)

TotalTxFeeInLastButOneDifficulty = Sum of all Tx fees of first 2008 blocks in last 2 difficulty period
TotalTxFeeInLastDifficulty = Sum of all Tx fees of second 2008 blocks in last 2 difficulty period (This actually includes 8 blocks from last but one difficulty)

If ( ( (Sum of first 4016 block size in last 2 difficulty period)/4016 > 50% MaxBlockSize) AND (TotalTxFeeInLastDifficulty > TotalTxFeeInLastButOneDifficulty) AND (TotalBlockSizeInLastDifficulty > TotalBlockSizeInLastButOneDifficulty) )
    MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize / TotalBlockSizeInLastButOneDifficulty
Else If ( ( (Sum of first 4016 block size in last 2 difficulty period)/4016 < 50% MaxBlockSize) AND (TotalTxFeeInLastDifficulty < TotalTxFeeInLastButOneDifficulty) AND (TotalBlockSizeInLastDifficulty < TotalBlockSizeInLastButOneDifficulty) )
    MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize / TotalBlockSizeInLastButOneDifficulty
Else
    Keep the same MaxBlockSize


Details: http://upalc.com/maxblocksize.php

Requesting for comment.