Hi guys,
I've noticed that the transactions fees went down since a couple of weeks which I think is a good thing (but maybe not for the miners
). I thought that it might be a good time to talk about the block size limit (just an open discussion about the different options that we have). Of course we could keep the block size limit to 1MB and try to increase the network's throughput by optimizing the codes which I don't think is the best option (I must apologize to the dev team but it seems like technological progress is outperforming your work 
). So I thought about something and I'd like to see what you've got.
Just like we have a DAA algorithm to maintain the block time at 10 min, we could have a dynamic block size limit algorithm to maintain the transaction fee at 1%. So basically..
If the avg transaction fee is greater than 1% then the block size limit increases;
If the avg transaction fee is lower than 1% then the block size limit decreases;
To make our calculation we would assume that the total amount of the transaction fees remains constant and that the total amount being transferred is proportional to the block size limit (we could optimize the formula if needed). The adjustment would be done every 2,016 blocks.
I'm obviously just brainstorming here. Anything you don't like about this idea or any other suggestion?
I've noticed that the transactions fees went down since a couple of weeks which I think is a good thing (but maybe not for the miners
). I thought that it might be a good time to talk about the block size limit (just an open discussion about the different options that we have). Of course we could keep the block size limit to 1MB and try to increase the network's throughput by optimizing the codes which I don't think is the best option (I must apologize to the dev team but it seems like technological progress is outperforming your work ). So I thought about something and I'd like to see what you've got.Just like we have a DAA algorithm to maintain the block time at 10 min, we could have a dynamic block size limit algorithm to maintain the transaction fee at 1%. So basically..
If the avg transaction fee is greater than 1% then the block size limit increases;
If the avg transaction fee is lower than 1% then the block size limit decreases;
To make our calculation we would assume that the total amount of the transaction fees remains constant and that the total amount being transferred is proportional to the block size limit (we could optimize the formula if needed). The adjustment would be done every 2,016 blocks.
I'm obviously just brainstorming here. Anything you don't like about this idea or any other suggestion?