From: Matt Whitlock <bip@mattwhitlock.name>
To: bitcoin-dev@lists.linuxfoundation.org, Btc Drak <btcdrak@gmail.com>
Subject: Re: [bitcoin-dev] Consensus based block size retargeting algorithm (draft)
Date: Fri, 28 Aug 2015 17:15:40 -0400 [thread overview]
Message-ID: <2081355.cHxjDEpgpW@crushinator> (raw)
In-Reply-To: <CADJgMzvkBDBD9_=53kaD_6_jWH=vbWOnNwOKK5GOz8Du-F08dQ@mail.gmail.com>
This is the best proposal I've seen yet. Allow me to summarize:
• It addresses the problem, in Jeff Garzik's BIP 100, of miners selling their block-size votes.
• It addresses the problem, in Gavin Andresen's BIP 101, of blindly trying to predict future market needs versus future technological capacities.
• It avoids a large step discontinuity in the block-size limit by starting with a 1-MB limit.
• It throttles changes to ±10% every 2016 blocks.
• It imposes a tangible cost (higher difficulty) on miners who vote to raise the block-size limit.
• It avoids incentivizing miners to vote to lower the block-size limit.
However, this proposal currently fails to answer a very important question:
• What is the mechanism for activation of the new consensus rule? It is when a certain percentage of the blocks mined in a 2016-block retargeting period contain valid block-size votes?
https://github.com/btcdrak/bips/blob/bip-cbbsra/bip-cbbrsa.mediawiki
On Friday, 28 August 2015, at 9:28 pm, Btc Drak via bitcoin-dev wrote:
> Pull request: https://github.com/bitcoin/bips/pull/187
next prev parent reply other threads:[~2015-08-28 21:15 UTC|newest]
Thread overview: 26+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-08-21 22:22 [bitcoin-dev] Consensus based block size retargeting algorithm (draft) Btc Drak
2015-08-21 23:17 ` Paul Sztorc
2015-08-22 0:06 ` Ahmed Zsales
2015-08-28 20:28 ` Btc Drak
2015-08-28 21:15 ` Matt Whitlock [this message]
2015-08-28 22:24 ` Gavin
2015-08-28 23:35 ` Chris Pacia
2015-08-28 23:38 ` Mark Friedenbach
2015-08-28 23:42 ` Matt Whitlock
2015-08-28 23:42 ` Chris Pacia
2015-08-29 0:00 ` Jorge Timón
2015-08-29 0:29 ` Mark Friedenbach
2015-08-29 10:15 ` Btc Drak
2015-08-29 17:51 ` Eric Lombrozo
2015-08-29 19:13 ` Natanael
2015-08-29 19:03 ` jl2012
2015-08-29 20:41 ` Jorge Timón
2015-08-30 17:13 ` jl2012
2015-08-30 18:56 ` Jorge Timón
2015-08-31 18:50 ` jl2012
2015-08-28 23:46 ` Btc Drak
2015-08-29 9:15 ` Elliot Olds
2015-08-28 23:38 ` Btc Drak
2015-08-28 23:36 ` Btc Drak
2015-08-28 23:44 ` Jorge Timón
2015-08-29 9:38 ` jl2012
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