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In the light of recent disagreements that is going on regarding consensus, I thought of if we can define a mathematically verifiable process to achieve the same. Hence I have put up my idea in details at http://upalc.com/bitcoin-constitution.php. The basic is as follows... 1. At least 21 bitcoin should support a hard fork proposal to be discussed. A poll, created on www.bitcoinocracy.com and backed by 21 bitcoins, will suffice for Hard Fork to be discussed by miners. Please note that, 21 is an arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal. 2. More than 50% hash power should support the proposal for at least 21 difficulty period. This can be determined using www.blocktrail.com/BTC/blocks/1 or www.coin.dance/blocks. Please note that, both 50% and 21 are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal. 3. More than 50% coin must support the proposal, where the total amount of coins participating in the poll is more than 1% of the total supply. This can be determined using a poll on www.bitcoinocracy.com. Please note that, both 50% and 1% are arbitrary figure. The exact figure can be discussed or voted on by the community before accepting this proposal. Any hard forking change should give the network enough time to be aware, test and upgrade. Hence, I propose, all hard forking changes are pushed together only at the time of block reward halving, i.e. once in every four year. Please feel free to rationally criticize and provide your valuable feedback on this proposal. |
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Bitcoin network does not have any direct incentive to run a full node. But it is healthy for the network to have more nodes securing it. Hence I was toying with the idea that how a bitcoin node can be incentivized without disturbing the existing bitcoin protocol.
It appears to me that sidechains can be used for this purpose. If bitcoin nodes can be equipped in a way so that it can perform as a gateway between bitcoin blockchain and an altcoin blockchain, i.e. validating the altcoin blockchain with bitcoin network with every bitcoin block found, then this concept might work. These nodes will be super node for the altcoin network, but normal for bitcoin network. Those altcoin blockchain or sidechains may incentivize the nodes, like it happen in PoS and in return can be secured by the huge hashing power of the bitcoin network. The altcoins, secured by the bitcoin network, may also help to solve the ~10 minutes delay of bitcoin confirmation.
As I am not an expert of the sidechain technology, I'd like to know from people with knowledge, whether an altcoin blockchain can be pegged to a bitcoin blockchain using a common node ?
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I proposed BIP 106 to solve the Block Size Max Cap issue - https://github.com/bitcoin/bips/blob/master/bip-0106.mediawiki. The graphs I need are regarding this BIP. Blockchain.info currently provides a graph plotting the historical data of block size for each block, which can be found at https://blockchain.info/charts/avg-block-size?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=I need two similar graphs plotting max block size cap against each block, calculated as per my two proposal... Proposal 1: Depending only on previous block size calculationThe basic idea in alogorithmic format is as follows... If more than 50% of block's size, found in the first 2000 of the last difficulty period, is more than 90% MaxBlockSize
Double MaxBlockSize
Else if more than 90% of block's size, found in the first 2000 of the last difficulty period, is less than 50% MaxBlockSize
Half MaxBlockSize
Else
Keep the same MaxBlockSize
Proposal 2: Depending on previous block size calculation and previous Tx fee collected by minersThe basic idea in alogorithmic format is as follows... TotalBlockSizeInLastButOneDifficulty = Sum of all Block size of first 2008 blocks in last 2 difficulty period
TotalBlockSizeInLastDifficulty = Sum of all Block size of second 2008 blocks in last 2 difficulty period (This actually includes 8 blocks from last but one difficulty)
TotalTxFeeInLastButOneDifficulty = Sum of all Tx fees of first 2008 blocks in last 2 difficulty period
TotalTxFeeInLastDifficulty = Sum of all Tx fees of second 2008 blocks in last 2 difficulty period (This actually includes 8 blocks from last but one difficulty)
If ( ( (Sum of first 4016 block size in last 2 difficulty period)/4016 > 50% MaxBlockSize) AND (TotalTxFeeInLastDifficulty > TotalTxFeeInLastButOneDifficulty) AND (TotalBlockSizeInLastDifficulty > TotalBlockSizeInLastButOneDifficulty) )
MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize / TotalBlockSizeInLastButOneDifficulty
Else If ( ( (Sum of first 4016 block size in last 2 difficulty period)/4016 < 50% MaxBlockSize) AND (TotalTxFeeInLastDifficulty < TotalTxFeeInLastButOneDifficulty) AND (TotalBlockSizeInLastDifficulty < TotalBlockSizeInLastButOneDifficulty) )
MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize / TotalBlockSizeInLastButOneDifficulty
Else
Keep the same MaxBlockSize
Is it possible to provide these two graphs assuming max block size cap for block 1 was 1mb ? |
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Also, please let us know if you are at or around Kolkata...
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I have tried to solve the maximum block size debate in two different proposal. i. Depending only on previous block size calculation. ii. Depending on previous block size calculation and previous Tx fee collected by miners. BIP 106: https://github.com/bitcoin/bips/blob/master/bip-0106.mediawikiProposal in bitcoin-dev mailing list - http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010285.htmlProposal 1: Depending only on previous block size calculationThe basic idea in alogorithmic format is as follows... If more than 50% of block's size, found in the first 2000 of the last difficulty period, is more than 90% MaxBlockSize
Double MaxBlockSize
Else if more than 90% of block's size, found in the first 2000 of the last difficulty period, is less than 50% MaxBlockSize
Half MaxBlockSize
Else
Keep the same MaxBlockSize
Proposal 2: Depending on previous block size calculation and previous Tx fee collected by minersThe basic idea in alogorithmic format is as follows... TotalBlockSizeInLastButOneDifficulty = Sum of all Block size of first 2008 blocks in last 2 difficulty period
TotalBlockSizeInLastDifficulty = Sum of all Block size of second 2008 blocks in last 2 difficulty period (This actually includes 8 blocks from last but one difficulty)
TotalTxFeeInLastButOneDifficulty = Sum of all Tx fees of first 2008 blocks in last 2 difficulty period
TotalTxFeeInLastDifficulty = Sum of all Tx fees of second 2008 blocks in last 2 difficulty period (This actually includes 8 blocks from last but one difficulty)
If ( ( (Sum of first 4016 block size in last 2 difficulty period)/4016 > 50% MaxBlockSize) AND (TotalTxFeeInLastDifficulty > TotalTxFeeInLastButOneDifficulty) AND (TotalBlockSizeInLastDifficulty > TotalBlockSizeInLastButOneDifficulty) )
MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize / TotalBlockSizeInLastButOneDifficulty
Else If ( ( (Sum of first 4016 block size in last 2 difficulty period)/4016 < 50% MaxBlockSize) AND (TotalTxFeeInLastDifficulty < TotalTxFeeInLastButOneDifficulty) AND (TotalBlockSizeInLastDifficulty < TotalBlockSizeInLastButOneDifficulty) )
MaxBlockSize = TotalBlockSizeInLastDifficulty * MaxBlockSize / TotalBlockSizeInLastButOneDifficulty
Else
Keep the same MaxBlockSize
Details: http://upalc.com/maxblocksize.phpRequesting for comment. |
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Here is an article on the future of bitcoin. What is the community opinion about it ? |
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The Creator or God is largely an incomprehensible embodiment of intelligence and life forms, in the planet Earth, are allowed sufficient time to be intelligent enough to understand the broad design of the cosmic evolution and investigate the creation of life and survival of the mankind in our planet, thereby empowering them to find the foot-print of the Creator. Please read on and leave your comment - God is Reality |
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Just felt earthquake in Kolkata. Anyone else felt it ?
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None of the blocks sold !!!  |
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When I register the block height of a transaction with the following API, does that remain fixed forever ? https://blockchain.info/rawtx/txHash...and one more thing. I was checking this : http://blockexplorer.com/q/getblockhash/273824 ...It used to return a proper block hash a few days ago. Now it says the following. Why so ? ERROR: unknown (Most likely my bitcoind stopped working or this page is too large/complex.) |
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For the last few days my post count is stuck to 28 !!! I wonder why ?
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