Is there demand for a solution that will (hopefully) solve the problems below? I ask because I don't wish to bother the devs with an incomplete and useless proposal.
BIP RFC: A solution to the block size limit?ChangesThis solution requires several changes to the Bitcoin system:
- The block header has an additional field added to it: the size of the block.
- The algorithm for chain length is changed. See below for details.
StrengthsThere are several strengths in this system.
- There is no need to increase the size of the block limit.
- Clients do not waste bandwidth downloading large blocks.
- Block sizes will be regulated through risk and reward, that is, by the market.
WeaknessesThere are several weaknesses in this system.
- A 51% attack is more dangerous, as miners have more control.
- A 51% attack may be easier to conduct, as the attacker could mine empty blocks.
ConceptsThis solution relies on several properties of the Bitcoin system:
- The length of a chain can be determined through only the block headers.
- The block headers are of a fixed size.
