4 ms·
Could Bitcoin just halve the difficulty and half the reward for mining a block at the same time? Wouldn't that effectively double the throughput of the system?
by lftl 9y ago
Could Bitcoin just halve the difficulty and half the reward for mining a block at the same time? Wouldn't that effectively double the throughput of the system? I'm guessing there's some negative consequences to this I don't understand.
- alanfalcon 9y agoThen we’d get blocks twice as quickly, but the transaction capacity of each block is not related to the difficulty or reward, it’s an artificial constraint. You could, say, have blocks 8x as large and increase capcity 8x without affecting the difficulty directly. (Some argue there are other ramifications to this, of course.)
- lftl 9y agoRight, so speeding up blocks is roughly equivalent to increasing the block size, which is what the whole BCH vs. BTC split was over, correct? So I guess the arguments against it would be the same? And if I understand correctly the core argument is that it would make it harder for anyone to verify the entire block chain. Is there any real argument against it beyond that?