Re: [bitcoin-dev] Dynamically Controlled Bitcoin Block Size Max Cap

From: cedric perronnet <cp@ows•fr>
To: bitcoin-dev@lists•linuxfoundation.org
Subject: Re: [bitcoin-dev] Dynamically Controlled Bitcoin Block Size Max Cap
Date: Tue, 18 Aug 2015 21:44:25 +0200	[thread overview]
Message-ID: <55D38B19.2090609@ows.fr> (raw)
In-Reply-To: <CAED3CWgTOMFgaM6bBfU0Dn-R0NrdrhGAQo34wHEneYkTtB4Opg@mail.gmail.com>

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Sounds like a much better approach than arbitrary deciding what the 
block size should be
BR

Le 18/08/2015 14:13, Upal Chakraborty via bitcoin-dev a écrit :
> Regarding: 
> http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010295.html 
>
>
>
> I am arguing with the following statement here...
>
>     /I see problems to this approach. The biggest one I see is that a
>     miner with 11% of hash power could sabotage block size increases
>     by only ever mining empty blocks./
>
>
>
> First, I would like to argue from economics' point of view. If someone 
> wants to hold back the block size increase with 11% hash power by 
> mining empty blocks, he has to sacrifice Tx fees, which is not 
> economical. 11% hash power will most likely be a pool and pool miners 
> will find out soon that they are losing Tx fees because of pool 
> owner's intention. Hence, they'll switch pool and pool owner will lose 
> out. This is the same reason why 51% attack will never happen, even if 
> a pool gets more than 51% hash power.
>
>
> Next, I would like to propose a slightly modified technical solution 
> to this problem in algorithmic format...
>
> 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
>
> This is how, those who want to stop increase, need to have more than 
> 50% hash power. Those who want to stop decrease, need to have more 
> than 10% hash power, but must mine more than 50% of MaxBlockSize in 
> all blocks. In this approach, not only miners, but also the end user 
> have their say. Because, end users will fill up the mempool, from 
> where miners will take Tx to fill up the blocks. Please note that, 
> taking first 2000 of the last 2016 blocks is important to avoid data 
> discrepancy among different nodes due to orphan blocks. It is assumed 
> that a chain can not be orphaned after having 16 confirmation.
>
> Looking for comments.
>
>
>
>
>
>
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