MIME-Version: 1.0
From: Jonathan Sterling <jon@thancodes.com>
Date: Thu, 19 Oct 2017 14:52:48 +0800
Message-ID: <CAH01uEtLhLEj5XOp_MDRii2dR8-zUu4fUsCd25mzLDtpD_fwYQ@mail.gmail.com>
To: bitcoin-dev@lists.linuxfoundation.org
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Subject: [bitcoin-dev] Improving Scalability via Block Time Decrease
Precedence: list

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The current ten-minute block time was chosen by Satoshi as a tradeoff
between confirmation time and the amount of work wasted due to chain
splits. Is there not room for optimization in this number from:

A. Advances in technology in the last 8-9 years
B. A lack of any rigorous formula being used to determine what's the
optimal rate
C. The existence of similar chains that work at a much lower block times

Whilst I think we can all agree that 10 second block times would result in
a lot of chain splits due to Bitcoins 12-13 second propagation time (to 95%
of nodes), I think we'll find that we can go lower than 10 minutes without
much issue. Is this something that should be looked at or am I an idiot who
needs to read more? If I'm an idiot, I apologize; kindly point me in the
right direction.

Things I've read on the subject:
https://medium.facilelogin.com/the-mystery-behind-block-time-63351e35603a
(section header "Why Bitcoin Block Time Is 10 Minutes ?")
https://bitcointalk.org/index.php?topic=176108.0
https://bitcoin.stackexchange.com/questions/1863/why-was-the-target-block-time-chosen-to-be-10-minutes

Kind Regards,

Jonathan Sterling

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<div dir=3D"ltr"><div>The current ten-minute block time was chosen by Satos=
hi as a tradeoff between confirmation time and the amount of work wasted du=
e to chain splits. Is there not room for optimization in this number from:<=
br><br>A. Advances in technology in the last 8-9 years</div><div>B. A lack =
of any rigorous formula being used to determine what&#39;s the optimal rate=
</div><div>C. The existence of similar chains that work at a much lower blo=
ck times</div><div><br></div>Whilst I think we can all agree that 10 second=
 block times would result in a lot of chain splits due to Bitcoins 12-13 se=
cond propagation time (to 95% of nodes), I think we&#39;ll find that we can=
 go lower than 10 minutes without much issue. Is this something that should=
 be looked at or am I an idiot who needs to read more? If I&#39;m an idiot,=
 I apologize; kindly point me in the right direction.<div><br></div><div>Th=
ings I&#39;ve read on the subject:</div><div><a href=3D"https://medium.faci=
lelogin.com/the-mystery-behind-block-time-63351e35603a">https://medium.faci=
lelogin.com/the-mystery-behind-block-time-63351e35603a</a> (section header =
&quot;Why Bitcoin Block Time Is 10 Minutes ?&quot;)<br></div><div><a href=
=3D"https://bitcointalk.org/index.php?topic=3D176108.0">https://bitcointalk=
.org/index.php?topic=3D176108.0</a></div><div><a href=3D"https://bitcoin.st=
ackexchange.com/questions/1863/why-was-the-target-block-time-chosen-to-be-1=
0-minutes">https://bitcoin.stackexchange.com/questions/1863/why-was-the-tar=
get-block-time-chosen-to-be-10-minutes</a><br></div><div><br></div><div><di=
v class=3D"gmail_signature"><div dir=3D"ltr">Kind Regards,<div><br></div><d=
iv>Jonathan Sterling</div></div></div>
</div></div>

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