Re:Skyrocketing Bitcoin Fees Hit Carders in Wallet
by oh_sigh on Thursday December 28, 2017 @11:05PM
(#16027441)
Do you happen to know the reason why there is only talk about increasing block size to increase the number of processable transactions, and not keeping block size the same but decreasing the time window for the average block to be mined down to 5 or 1 minute instead of 10 minutes?
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Re:Skyrocketing Bitcoin Fees Hit Carders in Wallet
by tlrobinson on Friday December 29, 2017 @12:15AM
(#16027723)
The same argument against increasing the block size but even more so. It takes time for blocks to propagate across the P2P network, which puts smaller miners at a disadvantage by increasing their orphan rate, which leads to miner centralization.
I think that argument is even stronger against lower block times because latency (network, validation, etc) rather than bandwidth contributes the most to block propagation delays.
Re:Skyrocketing Bitcoin Fees Hit Carders in Wallet
by umanwizard on Thursday December 28, 2017 @11:59PM
(#16027657)
There are plenty of altcoins with short block times. One downside is that they increase the frequency of orphaned blocks and chain reorganizations.
Anyway, doesn’t it amount to the same thing? 2 MB every 10 minutes or 1 MB every 5 minutes, your node still has to do roughly the same amount of work to validate blocks.