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From: Peter R <peter_r@gmx.com>
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Subject: [bitcoin-dev] Unlimited Max Blocksize (reprise)
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Hello Tom, Daniele --
Thank you Tom for pointing out the knapsack problem to all of us. I =
will include a note about it when I make the other corrections to the =
Fee Market paper.
I agree with what Daniele said previously. The other "non-greedy" =
solutions to the knapsack problem are most relevant when one is choosing =
from a smaller number of items where certain items have a size similar =
to the size of the knapsack itself. For example, these other solutions =
would be useful if transactions were often 50 kB, 100 kB, 400 kB in =
size, and we were trying to find the optimal TX set to fit into a 1 MB =
block. =20
However, since the average transaction size is ~500 bytes, even with a =
block size limit of 1 MB, we are looking at up to 2000 transactions. =
The quantization effects become small. Rather than 22 triangles as =
shown in Fig. 3 (http://imgur.com/rWxZddg), there are hundreds or a few =
thousands, and we can reasonably approximate the discrete set of points =
as a continuous curve. Like Daniele pointed out, the greedy algorithm =
assumed in the paper is asymptotically optimal in such a case.
Best regards,
Peter=
--Apple-Mail=_765913D6-131B-4EA8-9579-2ABAD12D3047
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html;
charset=us-ascii
<html><head><meta http-equiv=3D"Content-Type" content=3D"text/html =
charset=3Dus-ascii"></head><body style=3D"word-wrap: break-word; =
-webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hello =
Tom, Daniele --<div><br></div><div>Thank you Tom for pointing out the =
knapsack problem to all of us. I will include a note about it when =
I make the other corrections to the Fee Market =
paper.</div><div><br></div><div>I agree with what Daniele said =
previously. The other "non-greedy" solutions to the knapsack =
problem are most relevant when one is choosing from a smaller number of =
items where certain items have a size similar to the size of the =
knapsack itself. For example, these other solutions would be =
useful if transactions were often 50 kB, 100 kB, 400 kB in size, and we =
were trying to find the optimal TX set to fit into a 1 MB block. =
<div><br></div><div>However, since the average transaction size is =
~500 bytes, even with a block size limit of 1 MB, we are looking at up =
to 2000 transactions. The quantization effects become small. =
Rather than 22 triangles as shown in Fig. 3 (<a =
href=3D"http://imgur.com/rWxZddg">http://imgur.com/rWxZddg</a>), there =
are hundreds or a few thousands, and we can reasonably approximate the =
discrete set of points as a continuous curve. Like Daniele pointed =
out, the greedy algorithm assumed in the paper is asymptotically optimal =
in such a case.</div><div><br></div><div>Best =
regards,</div><div>Peter</div></div></body></html>=
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