[bitcoin-dev] Consensus based block size retargeting algorithm (draft)

[Matt Whitlock]

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