Blocksize update: Would this be easier?

jacktheking

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Personal Text Space Not For Sale

A simple Google search and ...

https://www.reddit.com/r/Bitcoin/comments/1bcr1s/why_is_difficulty_set_to_10_minutes_per_block_why/
http://bitcoin.stackexchange.com/questions/1863/why-was-the-target-block-time-chosen-to-be-10-minutes

I quickly went through it and would really like to quote this from the second link.

Quote

Shorter block time:

PRO - Faster 1 confirmation time (to protect from 0-confirm double spend)
PRO - Less payout variance for miners (less reliance on large pools)
CON - Requires increased bandwidth (inter node communication)
CON - More forks, longer forks, and longer re-org time
CON - A greater portion of the raw hashpower is wasted, resulting in lower effective security.

I believe this have been mentioned before by many others. However I do not see a much differences whether it is ten, seven or five minutes - at least to me.

Lauda

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Terminated.

This was suggested a few times because people do not like doing their research first. This is problematic:

Quote from: shorena on April 23, 2016, 01:43:01 AM

...increases the orphan rate, thus increases the amount of hashing power wasted. It also changes everything people have learned about confirmations, because now 2 confirmations provide the security of 1.

Although, I recall reading some research 'paper'(?) that stated that 7-8 minutes would be the optimal time for Bitcoin.

Quote from: GPUmonitor on April 23, 2016, 12:59:09 AM

The block time is not the debate we are focusing now, just the blocksize.

There will be a block size proposal in < 3 months.

shorena

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No I dont escrow anymore.

Quote from: JaredKaragen on April 22, 2016, 08:36:33 PM

Why not halve the reward and produce blocks twice as fast instead?

How would this effect the ecosystem aside from having a slight amount more data waste per block than with a larger block (header vs block data ratio)?

I don't see this hurting the ecosystem or the miners...... In fact, speeding up coins helps miners with averaging and consistency in payout times.

...increases the orphan rate, thus increases the amount of hashing power wasted. It also changes everything people have learned about confirmations, because now 2 confirmations provide the security of 1.

GPUmonitor

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Halving is set by the original founder Satoshi. The block time is not the debate we are focusing now, just the blocksize.

AgentofCoin

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Quote from: JaredKaragen on April 22, 2016, 08:36:33 PM

Why not halve the reward and produce blocks twice as fast instead?
...

Satoshi determined that it takes about 10 minutes for the
miners on Mars to broadcast their found block back to the Earth.

It allows the Martians to compete with their low bandwidth.

JaredKaragen

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My AR-15 ID's itself as a toaster. Want breakfast?

Why not halve the reward and produce blocks twice as fast instead?

How would this effect the ecosystem aside from having a slight amount more data waste per block than with a larger block (header vs block data ratio)?

I don't see this hurting the ecosystem or the miners...... In fact, speeding up coins helps miners with averaging and consistency in payout times.

Topic: Blocksize update: Would this be easier? (Read 442 times)