Post
Topic
Board Development & Technical Discussion
Re: Dynamically Controlled Bitcoin Block Size Max Cap
by
CounterEntropy
on 19/08/2015, 18:38:28 UTC
I hate to rain on the parade, but full blocks are an essential feature going into the future. Any proposal that tries to avoid ever having full blocks also must address how transaction fees are going to replace inflation as it diminishes.
If not, then there will be no funding for the highly redundant network that exists now, and it will necessarily atrophy to a handful of nodes; Being hardly less subject to coercion, malpractice, and discrimination than our financial system today.
This proposal does not negate full blocks. It has taken a demand driven approach. It is raising max cap only when more than 50% blocks are 90% full. It will decrease max cap if more then 90% blocks are less than 50% full. Hence the provision to collect Tx fee for each miner is always there. When it is increasing max cap because of full blocks, it means there are enough Tx in mempool to be cleared. When it is not there, we will see small blocks and max cap will automatically come down. Hence miners will never be starved off Tx fee.