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<p>As i understand it, the transactions to be included in a block
are entirely up to the miner of that block.</p>
<p><br>
</p>
<p>What prevents a miner from implementing the proposal on their
own?</p>
<p><br>
</p>
<p>If this is adopted as some kind of "policy", what forces a miner
to follow it?<br>
</p>
<pre class="moz-signature" cols="72">Jim Renkel
</pre>
<div class="moz-cite-prefix">On 12/2/2017 10:07 PM, Damian
Williamson via bitcoin-dev wrote:<br>
</div>
<blockquote type="cite"
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<p style="margin-top:0;margin-bottom:0"># BIP Proposal: UTWFOTIB
- Use Transaction Weight For Ordering Transactions In Blocks<br>
</p>
<br>
I admit, with my limited experience in the operation of the
protocol, the section entitled 'Solution operation' may not be
entirely correct but you will get the idea. If I have it wrong,
please correct it back to the list.<br>
<br>
<p style="margin-top:0;margin-bottom:0">## The problem:<br>
</p>
<br>
<p style="margin-top:0;margin-bottom:0">Everybody wants value.
Miners want to maximize revenue from fees. Consumers want
transaction reliability and, (we presume) low fees.<br>
</p>
<br>
Current transaction bandwidth limit is a limiting factor for
both.<br>
<br>
<p style="margin-top:0;margin-bottom:0">## Solution summary:<br>
</p>
<br>
<p style="margin-top:0;margin-bottom:0">Provide each transaction
with a transaction weight, being a function of the fee paid
(on a curve), and the time waiting in the transaction pool
(also on a curve) out to n days (n=30 ?); the transaction
weight serving as the likelihood of a transaction being
included in the current block, and then use a target block
size.
<br>
</p>
<br>
Protocol enforcement to prevent high or low blocksize cheating
to be handled by having the protocol determine the target size
for the current block using; current transaction pool size x ( 1
/ (144 x n days ) ) = transactions to be included in the current
block.<br>
<br>
The curves used for the weight of transactions would have to be
appropriate.<br>
<br>
<p style="margin-top:0;margin-bottom:0">## Pros:<br>
</p>
<br>
* Maximizes transaction reliability.<br>
* Maximizes possibility for consumer and business uptake.<br>
* Maximizes total fees paid per block without reducing
reliability; because of reliability, confidence and uptake are
greater; therefore, more transactions and more transactions
total at priority fees.<br>
* Market determines fee paid for transaction priority.<br>
<p style="margin-top:0;margin-bottom:0">* Fee recommendations
work all the way out to 30 days or greater.<br>
</p>
* Provides additional block entropy and greater security since
there is less probability of predicting the next block.<br>
<br>
<p style="margin-top:0;margin-bottom:0">## Cons:<br>
</p>
<br>
* ?<br>
* Must be first be programmed.<br>
* Anything else?<br>
<br>
<p style="margin-top:0;margin-bottom:0">## Solution operation:<br>
</p>
<br>
<p style="margin-top:0;margin-bottom:0">As I have said, my
simplistic view of the operation. If I have this wrong, please
correct it back to the list.<br>
</p>
<br>
1. The protocol determines the target block size.<br>
<p style="margin-top:0;margin-bottom:0">2. Assign each
transaction in the pool a transaction weight based on fee and
time waiting in the transaction pool.<br>
</p>
<p style="margin-top:0;margin-bottom:0">3. Begin selecting
transactions to include in the current block using transaction
weight as the likelihood of inclusion until target block size
is met.<br>
</p>
4. Solve block.<br>
<br>
<p style="margin-top:0;margin-bottom:0">Regards,</p>
<p style="margin-top:0;margin-bottom:0">Damian Williamson<br>
</p>
</div>
<br>
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</pre>
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