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seriously plug it all day Monero is a shills joke here fullstop.
legend u'd think u'd know better.
seriously plug it all day Monero is a shills joke here fullstop.
legend u'd think u'd know better.
Then show me another POW coin that has a long term solution to the blocksize / fee market issue other than "bury your head in the sand". By the way the reason I even found out about Monero in the first place is because I was researching this very issue back in 2014. I have been following the blocksize issue and the "bury your head in the sand" response from the Bitcoin community since early 2012.
Is really cool that Monero already has a dynamic block size, I think it will be interesting to see how it behaves with a large volume of transactions / bigger blocksize. Is it possible to do some sort of scalability test?
It would be good to try it somehow, just the fact that is dynamic does not necessarily mean that it will perform well at higher block sizes? Can you explain a bit how it works please? Wouldnt the blocks just continue to get bigger as the volume of transactions rises?
It uses a quadratic penalty function, so there is a penalty to the miner for an increase in the blocksize. The impact of this is to create a cost to increase the blocksize based on the loss of part of the block reward vs the increase in fees for the block. It is explained in the Cryptonote whitepaper. https://cryptonote.org/whitepaper.pdf. The key is that for this to work there has to be an emission leading to a base reward. Monero has addressed this by having a minimum tail base reward of 0.3 XMR per block in perpetuity This add a small amount of inflation under 1% per year for ever. Other Cryptonote coins have not done this so once their regular emission runs out, the penalty becomes meaningless since it is based on the base emission, and what you describe above is what would happen.
Edit: One needs both and adaptive blockszie and a minimum tail emission for this to work.
If we won't increase the blocksize we will definitly won't go mainstream ... Is there is any possibility of implenting bigger blocksize on the current blockchain and current Bitcoin Core , If yes then what the developpers are waiting for exactly ?
