The exchange rate of bitcoin is falling in the absence of consensus.

in #bitcoin8 years ago

Now according to the site tradeblock.com the queue of unconfirmed transactions more than 10 000.This is less than in the above example, but much more of the capacity of the unit.Therefore, if the size of mempool greater than 1 megabyte and no matter how we have turn.And here begins the most interesting.What would be interesting is to understand will return to the history Commission.
At the beginning of the commissions did not exist.But then came the need to protect the network from economically worthless transaction simply spam or else it was called "dust".In General, it appeared that the blockchain is a very valuable element of the system and it is not advisable to put everything in the transaction.
Here proceed to the first stage of the history.In order for the blockchain contain economically useful transactions was established the Commission that was implemented in Bitcoin Core version 0.3.21.Under the "economically useful" transactions I understand such transactions involved in the real economy are paying for goods services simply perform the function of money.If transaction was created for a different purpose e.g. in order to inflate the size of the blockchain so you had to pay a Commission.As a rule unprofitable transactions they dust they spam for the application of any tangible effect demand mass. To do this, attacking people creating these transactions benefited from the bitcoin Protocol bitcoin is divided into many small outputs.Then collected the fines and this created a huge amount of useless transactions.For such antics he had to pay.Given the fact that the Commission in the bitcoin network was negligible this did not always prevent attack. Commission algorithm took into account much the value of the transaction weight of transaction,time period of creation of the transaction, all this complicates the attack, but rather had become financially burdensome.But the weak point remained fixed Commission.It is reasonably not possible until the present time.

Here we turn to the second stage of the history.Over time, the number of economically useful transactions has increased.Given the dust, the total size of Nampula began to exceed 1 megabyte.It has become a problem so as to delay the start of entering the transaction in the block Given that everyone paid the same Commission no one had priority and even increased the Commission did not solve the problem.The problem was not solved at the Protocol level, the Commission was still fixed and formally dust as useful transaction had the right to enter the unit.However, users in the case of a loaded network attempted to "crawl queue" sending transaction with increased Commission.And here in this moment, some miners began to show selectivity.Miners set up the software so that the unit has been involved primarily transactions with the highest Commission.Now all who will pay a Commission higher than the market average could get into the first series and to be included in the unit.Born "market commissions"! This approach to the issue helped to solve several problems at once. 

1.All anyone really needs to get to the closest block you can do it without waiting on the line just to pay a big Commission. 

2. Market commissions creates an economic priority.This means that if you are in a hurry you can pay less and get to the second the third block. Thereby pushing the dust in the back of the line. The dust usually contains the least Commission. 

3. Attack the network to create congestion not passing transactions become very expensive.Because the more you turn, the more expensive the Board and if you try ddos-ing the network the value grows dynamically. 

4.With a decrease in the reward for found block over time,miners will need in compensation costs.And the Commission can be the solution. 

And so,the Commission became a kind of natural selection tool,security shield.And in version 12.0 Bitcon Core,dynamic Commission,priority of inclusion in the block exception chains of unconfirmed transactions was included in the Protocol.Although the old priority is not yet fully excluded from the Protocol but is turned off by default.And it is planned to be removed in Core 0.13.Now, the network plays naturally to the changed rules.
Example:


Commission and it is blue yellow green levels quite fit in the block!And even the red level which is significantly different from the other three as well in most cases is placed in the unit.This means that if you don't dabble with setting commissions hands do not change the default settings of most normal customers that your transaction regardless of the current load on the network will arrive at the nearest unit.In this fee the bitcoin network is very competitors in comparison with popular payment systems.
Of course over time, even economically beneficial transactions will approach some limits.And what would bitcoin was ahead of all the competitors on the part of commissions will be necessary to increase the capacity of transaction in the block.Because otherwise, dynamically adapting to the network load of the Commission will become uncompetitive.And in General, to take such unprofitable to use it.Fortunately, these concerns still have time reserve.The most pleasing is that the developers have a solution vector of the problem.And we all know about their plans to introduce SegWit new Opcodes allows you to create sydeny like Lightning Network optimization of cryptographic algorithms according to the type of Schnorr Signat to reduce the size of the signature and increase the speed of transaction


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