- Fee distributing transactions need to be both within 2 hours and 12 blocks
If you add in the within 12 block rule, then you reintroduce incentives for reorganization. I can now capture more fees if I displace the last mined block (in some cases).
If you make it a 40 or 100 block rule, then only the time limit will be binding and it should be fine. (i.e. the block limit would only matter if the time stamps break down.)
With a 12 block rule, the block limit is frequently binding and therefore reorganizations are often beneficial to the minter.
Just to be sure... you're not suggesting that the new block actually contains the data. Just that previous blocks are evaluated when the fee is calculated, correct?
Yes, no point in duplicating the data.
Can you explain what you mean by "fee aggregation"?
The number of blocks per 2 hours is random. Therefore, the number of blocks that are eligible for the txn fee/12 is random. On average, however there are 12 blocks every 2 hours, so it would approximately balance out over a long time span.
Are you proposing that 100% of the TXN fee
Any fixed% is fine. If you want a deflationary force, then make the % less than 100. I don't think the amount which can be collected as a fee should be capped.
gets redistributed across 12 blocks?
I don't mean 12 blocks. If you base it on the number of blocks you will have incentives for reorganization. I mean a 2-hour validity window determined purely by the timestamp on the txns and the timestamp on the block. Any block that makes it into the window gets txn fee/12. Sometimes you pay out more in fees then the txn fees included in the blocks (i.e. fees have to be minted). Sometimes you pay out less in fees than the txn fees included in blocks (i.e. fees have to be destroyed). It depends on how many blocks are generated in that two hours.
There might be some subtle gaming of the block timestamp involved which would prevent it from balancing out over the long-run. Not sure about this. In any case, you can leave a safety margin by destroying a fraction of the txn fees.