From: Natanael <natanael.l@gmail•com> To: Bitcoin Dev <bitcoin-dev@lists•linuxfoundation.org> Subject: Re: [bitcoin-dev] Block size adjustment idea - expedience fees + difficulty scaling proportional to block size (+ fee pool) Date: Fri, 31 Mar 2017 06:14:30 +0200 [thread overview] Message-ID: <CAAt2M19wEj4YqE70a8i1Sj5c1=sVnSR58pbThrbgDrAzfEzJVg@mail.gmail.com> (raw) In-Reply-To: <CAAt2M1_NhZ5DvK6xSbSRqn5uJQLAgWenLHOKv7OtQ9uQs=Ng_g@mail.gmail.com> [-- Attachment #1: Type: text/plain, Size: 1523 bytes --] Den 30 mars 2017 11:34 skrev "Natanael" <natanael.l@gmail•com>: Block size dependent difficulty scaling. Hardfork required. Larger blocks means greater difficulty - but it doesn't scale linearly, rather a little less than linearly. That means miners can take a penalty in difficulty to claim a greater number of high fee transactions in the same amount of time (effectively increasing "block size bitrate"), increasing their profits. When such profitable fees aren't available, they have to reduce block size. In other words, the users literally pay miners to increase block size (or don't pay, which reduces it). This can be simplified if we do get a fee pool (less hardfork code, more softfork code), except that the effect will be partially reduced by the mining subsidy until it approximately reaches parity with average total fees. We don't need to alter difficulty calculation. Instead we alter the percentage of the fees that the miner gets to claim VS what he have to donate to the pool based on the size of the block he generated. Larger block = smaller percentage of fees. This is another way to pay for blocksize. The effect of this is that on average, miners that generate smaller blocks takes a share of what otherwise would be part of the mining profits of those generating larger blocks. We would need to keep pieces of the section from above on expected blocksize calculation. Because the closer you are to the expected blocksize, the more you keep. And thus we need to adjust it according to usage. [-- Attachment #2: Type: text/html, Size: 2405 bytes --]
next prev parent reply other threads:[~2017-03-31 4:14 UTC|newest]
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2017-03-30 9:34 ` Natanael
2017-03-30 10:04 ` Luke Dashjr
[not found] ` <CAAt2M1-57SMT4WT-4_pdkTPyybQgr2ZuQZW_KW2ZwhTQ7HEnqg@mail.gmail.com>
[not found] ` <CAAt2M1-3R7rY55=QgkP8xUs=SDHxyNQV_fshbi89a9KzcwWfLQ@mail.gmail.com>
2017-03-30 10:19 ` Natanael
2017-03-30 18:41 ` Natanael
2017-03-31 4:14 ` Natanael [this message]
2017-03-31 4:15 ` Natanael
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