Re:The Bitcoin Blocksize: A Summary
by paulmd on Wednesday August 12, 2015 @02:41PM
(#10049752)
I suppose that's true. Trying to fix that would basically put you in the third case - you need everyone to be working on the same transactions, which are the most significant (greatest transaction fees).
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Re:The Bitcoin Blocksize: A Summary
by pstrateman on Wednesday August 12, 2015 @03:47PM
(#10050176)
The entire purpose of mining is to enable global consensus.
It's not possible to ensure that all miners are operating on the same transaction set.
I think Andresen's O(1) block propagation proposal[0] requires exactly that. I'm not sure if he has worked out the details though.
[0]:https://gist.github.com/gavinandresen/e20c3b5a1d4b97f79ac2
Re:The Bitcoin Blocksize: A Summary
by pstrateman on Wednesday August 12, 2015 @04:24PM
(#10050375)
Gavin relies on the transactions miners are working on being close to the same, but not exactly.
An easy way to understand the proposal is to think about it in terms of forward error correction.
The design is an improvement over the existing relay network to compactly encode transactions which are not yet fully relayed.
In practice the improvement is very small.
Information on the existing relay network is available here http://bitcoinrelaynetwork.org/