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Why Block Size Increase Is Not a Solution to High Fees for Bitcoin
- sova 9y agoGood writeup, have you looked into iotacoin?
- funyug 9y agoI have not looked into their tech but i have heard that they have similar issues to bitcoin when bitcoin was 0 fee i.e spam attacks and other stuff.
- sova 9y agointeresting. That may very well be a huge obstacle. Because they are all about no-fee adjoinders to the tangle. Hmmm. Other paradigms have the fee built in as this article mentioned. That might be a way for them to mitigate this, with some sort of implied starting transaction velocity / stickiness that could decrease. Like a way to outdate spammy attackings and disregard their info. Damn though, all that takes tabulation and overhead, which is where you want to pack it all down with cryption. Man. That is a toughie.
- funyug 9y agoOutdating spam attacks and disregarding their info kills the immutability part of the system. There is currently no solution to this issue as if fee reduces spam becomes more prominent and bloats the blockchain. Their needs to be a balance.
- sova 9y agoAs as the fee goes down, spam of the tangle goes up. Wow man, this is hard problem. Thanks for your words & study. Hope they can get it figured out. Do you think Lightning will have it down pat?
- funyug 9y agoLightning is a great solution but it is still years away from production use. Ethereum is doing something similar but their tech is also scheduled to be ready in 2019. Nothing is available right now.