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| author | Pieter Wuille <pieter.wuille@gmail.com> | 2015-12-16 22:36:09 +0100 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2015-12-16 21:36:10 +0000 |
| commit | cbda213389c2bd2e30baba7a8136ed932e666c79 (patch) | |
| tree | 664f8ac629280346013f2749be1ec3577f7c0945 /f4 | |
| parent | 1cd69ec2903726305358f392158986ae0fd419a8 (diff) | |
| download | pi-bitcoindev-cbda213389c2bd2e30baba7a8136ed932e666c79.tar.gz pi-bitcoindev-cbda213389c2bd2e30baba7a8136ed932e666c79.zip | |
Re: [bitcoin-dev] Segregated Witness in the context of Scaling Bitcoin
Diffstat (limited to 'f4')
| -rw-r--r-- | f4/6deb848d62e878859eb63fdbf68271ea03d608 | 93 |
1 files changed, 93 insertions, 0 deletions
diff --git a/f4/6deb848d62e878859eb63fdbf68271ea03d608 b/f4/6deb848d62e878859eb63fdbf68271ea03d608 new file mode 100644 index 000000000..a2dff6bc8 --- /dev/null +++ b/f4/6deb848d62e878859eb63fdbf68271ea03d608 @@ -0,0 +1,93 @@ +Return-Path: <pieter.wuille@gmail.com> +Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org + [172.17.192.35]) + by mail.linuxfoundation.org (Postfix) with ESMTPS id 8768BE78 + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 16 Dec 2015 21:36:10 +0000 (UTC) +X-Greylist: whitelisted by SQLgrey-1.7.6 +Received: from mail-ig0-f174.google.com (mail-ig0-f174.google.com + [209.85.213.174]) + by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 322CBED + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 16 Dec 2015 21:36:10 +0000 (UTC) +Received: by mail-ig0-f174.google.com with SMTP id to4so85190229igc.0 + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 16 Dec 2015 13:36:10 -0800 (PST) +DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20120113; + h=mime-version:in-reply-to:references:date:message-id:subject:from:to + :cc:content-type; + bh=s3So3Y08u3IYSowDzrcdtxlaDVf2/CO0e3ovG18gZ+4=; + b=BmeD47hPlO5NOxatNqv5B+rQ8n9/uWtZcxBzsxteZq2KgfwJb4dt46vanYcf/exjre + 0x9KZ1HVWjKaI7fkdzWfUvrXKpLsBV5/TNyd56Wp0B6ysMiL4Agaiel3pSRgtcnozYel + /slsFXdONIJdS4xqEx7tQ1RbEfWGsDdm4OTqZ5hdPwDrlv88LlNzLDC0ejmJ3QPmHIbP + VWVgJXys0Ve0xC8HGL1X6orAiC+FFyiYXA0+5URvoBWmgcJkEYE/QsV6WKMowSB0otPx + DIUl/EG31sUU072FuUvGB+alc5KO6LhbFz82QD7FxL/wzSi2gEuEm2VW7bTdSQf2GZWM + es/g== +MIME-Version: 1.0 +X-Received: by 10.107.165.197 with SMTP id o188mr21193442ioe.132.1450301769666; + Wed, 16 Dec 2015 13:36:09 -0800 (PST) +Received: by 10.36.80.6 with HTTP; Wed, 16 Dec 2015 13:36:09 -0800 (PST) +In-Reply-To: <CADm_WcYZq3nzfYMXfzkZsTCsgmzy4L_nYpa5Kax8uF_ajuUTiQ@mail.gmail.com> +References: <CADm_WcYWh5EnBCzQQVc04sf-0seh2zrmc+5dH8Z-Bo78jhPnfA@mail.gmail.com> + <CAPg+sBhUso0ddfYQMgwF7yX9_VoqP9CZN5h45t3eQi4v3m6f6A@mail.gmail.com> + <CADm_WcYZq3nzfYMXfzkZsTCsgmzy4L_nYpa5Kax8uF_ajuUTiQ@mail.gmail.com> +Date: Wed, 16 Dec 2015 22:36:09 +0100 +Message-ID: <CAPg+sBiVVcNNHuV9e1SaPoDSMEwjZHL7tQiszxbE2SQYp1Ongw@mail.gmail.com> +From: Pieter Wuille <pieter.wuille@gmail.com> +To: Jeff Garzik <jgarzik@gmail.com> +Content-Type: text/plain; charset=UTF-8 +X-Spam-Status: No, score=-2.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, + DKIM_VALID, DKIM_VALID_AU, FREEMAIL_FROM, + RCVD_IN_DNSWL_LOW autolearn=ham version=3.3.1 +X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on + smtp1.linux-foundation.org +Cc: Bitcoin development mailing list <bitcoin-dev@lists.linuxfoundation.org> +Subject: Re: [bitcoin-dev] Segregated Witness in the context of Scaling + Bitcoin +X-BeenThere: bitcoin-dev@lists.linuxfoundation.org +X-Mailman-Version: 2.1.12 +Precedence: list +List-Id: Bitcoin Development Discussion <bitcoin-dev.lists.linuxfoundation.org> +List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe> +List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/> +List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org> +List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help> +List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe> +X-List-Received-Date: Wed, 16 Dec 2015 21:36:10 -0000 + +On Wed, Dec 16, 2015 at 10:27 PM, Jeff Garzik <jgarzik@gmail.com> wrote: +>> Not correct. I propose defining the virtual_block_size as base_size + +>> witness_size * 0.25, and limiting virtual_block_size to 1M. This +>> creates a single variable to optimize for. If accepted, miners are +>> incentived to maximize fee per virtual_block_size instead of per size. +> +> +> It is correct. There are two separate sets of economic actors and levels of +> contention for each set of space. +> +> That is true regardless of the proposed miner selection algorithm. + +Maybe I haven't explained this properly, so consider this example: + +A miner receives sets of 200 byte transactions with all identical +fees. Non-witness ones (whose virtual size is thus 200 bytes) and a +witness one (where 120 of the 200 bytes are witness data, so its +virtual size is 80 + 120*0.25 = 110 bytes). + +The consensus rules would limit 1) the base size to 1000000 bytes 2) +the virtual size to 1000000 bytes. However, as the virtual size is +defined as the sum of the base size plus a non-negative number, +satisfying (2) always implies satisfying (1). + +Thus, the miners' best strategy is to accept the witness transactions, +as it allows 1000000/110=9090 transactions rather than +1000000/200=5000. + +In fact, the optimal fee maximizing strategy is always to maximize fee +per virtual size. + +-- +Pieter + |