t. khan [ARCHIVE] on Nostr: 📅 Original date posted:2016-12-10 📝 Original message:Agreed, the clear goal of ...
📅 Original date posted:2016-12-10
📝 Original message:Agreed, the clear goal of 10 minutes per block is why the difficulty
adjustment works well. Blocks averaging 75% full is the clear goal of the
described method. That's the target to attempt.
Under Block75, there will still be full blocks. There will still be
transaction fees and a fee market. The fees will be lower than they are now
of course.
Hardcoding a cap will inevitably become a roadblock (again), and we'll be
back in the same position as we are now. Permanent solutions are preferred.
On Sat, Dec 10, 2016 at 6:12 PM, Bram Cohen <bram at bittorrent.com> wrote:
> On Mon, Dec 5, 2016 at 7:27 AM, t. khan via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
>
>>
>> Put another way: let’s stop thinking about what the max block size should
>> be and start thinking about how full we want the average block to be
>> regardless of size. Over the last year, we’ve had averages of 75% or
>> higher, so aiming for 75% full seems reasonable, hence naming this concept
>> ‘Block75’.
>>
>
> That's effectively making the blocksize limit completely uncapped and only
> preventing spikes, and even in the case of spikes it doesn't differentiate
> between 'real' traffic and low value spam attacks. It suffers from the same
> fundamental problems as bitcoin unlimited: There are in the end no
> transaction fees, and inevitably some miners will want to impose some cap
> on block size for practical purposes, resulting in a fork.
>
> Difficulty adjustment works because there's a clear goal of having a
> certain rate of making new blocks. Without a target to attempt automatic
> adjustment makes no sense.
>
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📝 Original message:Agreed, the clear goal of 10 minutes per block is why the difficulty
adjustment works well. Blocks averaging 75% full is the clear goal of the
described method. That's the target to attempt.
Under Block75, there will still be full blocks. There will still be
transaction fees and a fee market. The fees will be lower than they are now
of course.
Hardcoding a cap will inevitably become a roadblock (again), and we'll be
back in the same position as we are now. Permanent solutions are preferred.
On Sat, Dec 10, 2016 at 6:12 PM, Bram Cohen <bram at bittorrent.com> wrote:
> On Mon, Dec 5, 2016 at 7:27 AM, t. khan via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
>
>>
>> Put another way: let’s stop thinking about what the max block size should
>> be and start thinking about how full we want the average block to be
>> regardless of size. Over the last year, we’ve had averages of 75% or
>> higher, so aiming for 75% full seems reasonable, hence naming this concept
>> ‘Block75’.
>>
>
> That's effectively making the blocksize limit completely uncapped and only
> preventing spikes, and even in the case of spikes it doesn't differentiate
> between 'real' traffic and low value spam attacks. It suffers from the same
> fundamental problems as bitcoin unlimited: There are in the end no
> transaction fees, and inevitably some miners will want to impose some cap
> on block size for practical purposes, resulting in a fork.
>
> Difficulty adjustment works because there's a clear goal of having a
> certain rate of making new blocks. Without a target to attempt automatic
> adjustment makes no sense.
>
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