Re: [bitcoin-dev] Floating-Point Nakamoto Consensus

[Jeremy <jlrubin@mit.edu>]

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If I understand correctly, this is purely a policy level decision to accept
first-seen or a secondary deterministic test, but the most-work chain is
still always better than a "more fit" but less work chain.

In any case, I'm skeptical of the properties of this change. First-seen has
a nice property that once you receive a block, you have a substantially
reduced incentive to try to orphan it because the rest of the network is
going to work on building on that block. With fitness, I have a 50% shot if
I mine a block of mine being accepted, so floating point would have the
effect of destabilizing consensus convergence at the tip.

I could see using a fitness rule like this be useful if you see both blocks
within some very small window, e.g., 10 seconds, as it could decrease
partition risk if it's likely the orphan was mined within close range of
the other.

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