27 votes
Accepted

What is the purpose of the tail emission?

The first question one needs to ask before even considering adaptive blocksize limits is: Can a fee market actually work in the absence of a base emission? We first consider a blocksize ...
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  • 1,428
17 votes
Accepted

Ability to choose your own transaction fee

You can select a higher fee if you want. This choice is intentionally limited to a 1x, 2x, and 3x multiplier to avoid leaking too much information via the fee (ie, if you're the only one using a 2.7x ...
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  • 34.6k
16 votes
Accepted

How does the dynamic fee calculation work?

According to the pull request from moneromooo-monero on behalf of ArticMine: The dynamic fee is based on the block size in a past window, and the current block reward. It is expressed by kB. This ...
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15 votes
Accepted

Why will the v5 fork raise the min block size to 300,000 bytes?

@Jollymort will probably answer this better but the current dynamic size algorithm didn't work well with RingCT transactions. It worked well with non RingCT transactions, which were smaller. Once a ...
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  • 2,158
12 votes
Accepted

What happens if a very large transaction is over 2x the median block size?

The 2x the median block size cap is directed at the blocks themselves not individual transactions. In my example below I will ignore the small coinbase transaction. Assume during a single block ...
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  • 2,073
11 votes

How is the quadratic miners penalty calculated

When a block is built a block larger than the median size of the last 100, then a quadratic penalty is imposed on the miner such that: penalty = base subsidy * ((block size / median size of last 100 ...
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  • 2,073
11 votes
Accepted

How many transactions can fit in a block?

There is no easy answer, since both the block size limit and the transaction sizes are variable. currently, the block size limit sits at its low limit, which is 60 kB. A transaction size can range ...
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  • 34.6k
9 votes
Accepted

How can block size grow over time when miners are incentivised to keep size small?

TL;DR Actually, with the current minimum fee, there's an incentive for 0.6% growth as long as there's enough transactions coming in. Problem is not in the formulas themselves, but in the typical ...
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  • 19.8k
9 votes
Accepted

Is there any block size limitation?

There is a block size limitation. The maximum block size is variable, and a function of the size of the previous blocks. More precisely, the maximum block size at a given height is the maximum of (1)...
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  • 34.6k
9 votes
Accepted

How does the dynamic blocksize and the dynamic fees work together in Monero?

In addition to the excellent summary by ArticMine already given, here below is shortened & updated version of my research on the topic. Dynamic Blocksize Penalty This is the penalty which will be ...
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  • 19.8k
8 votes

Block reward penalties and dynamic block size

This limit is based on the median of the last 100 blocks' size, after removing outliers, with a 60 kB lower limit (so blocks can't get TOO small, or you could have a hard time "restarting"). This ...
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  • 34.6k
8 votes

Ability to choose your own transaction fee

Fees are rounded to 0.01 XMR per KB. Because of the way outputs are selected, calculating the size of a transaction in advance (and choosing your own fee) would be very difficult and time consuming. ...
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  • 885
8 votes
Accepted

How does block time depend on number of transactions and block size?

Right now, it's basically a 1:1 relationship in the long term for a very basic reason. According to moneroblocks.info, there have been roughly 8100 transactions in the past week. Since there are 10080 ...
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7 votes

What is the purpose of the tail emission?

What if there was no gold to mine? The fact that it might be more efficient or beneficial to mine rather than buy from a collector adds needed complexity to market decisions. Beanie Babies were ...
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7 votes
Accepted

Does the CONOP definition exclude pruning branches from its node definition?

By definition pruning branches cannot be considered full nodes because they are missing the data that has been pruned. Pruning branches are not full nodes according to the definition of CONOP. This ...
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  • 4,546
6 votes

Block reward penalties and dynamic block size

The 60 kB limit is the minimum median block size limit. Thus, miners are able to construct blocks up to 60 kB without incurring a penalty. This limit was increased from 20 kB in the March 23, 2016 ...
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  • 14.9k
6 votes
Accepted

Vcash privacy and scaling compared with Monero?

Unlike Monero which has many developers, Vcash arguably has a bus factor of 1. After recently being doxxed, its developer is alleged to have made harmful changes to the code before abandoning the ...
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  • 500
6 votes
Accepted

How far will Monero scale up (gradually or instantaneous)?

I am pretty sure that the network could not handle a million daily transactions (how many does it handle now?) In the last day, Monero processed an average of 2.22 transactions per block excluding ...
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  • 321
6 votes
Accepted

Will a large and sustained increase in Monero transactions resolve the current issues of the dynamic block size penalty function?

Maybe it would. In theory, to smoothly function as "originally intended" would mean the median block size would somehow have to grow to the point where one TX is 1.2% of the median, which translates ...
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  • 19.8k
5 votes

Why is there a penalty on large block sizes?

If you were a bank, then I agree with you - clearing all transactions as fast as possible makes the most sense for your customers. After all, you would control all the account information, have plenty ...
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  • 620
5 votes
Accepted

What is the rationale behind keeping transactions in the mempool longer after they were in an orphaned block?

Based on current transaction volume (and a small reorg) there does not appear to be a need for a 7 day period for such transaction (because they can be confirmed much faster. However if transaction ...
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  • 808
5 votes
Accepted

Is it viable to attack Monero by artificially bloating blocks and make it harder to run a full node due to the increased blockchain burden?

The largest size of the next block is limited to 2x the median size of last 100 blocks. Creating a block this large imposes a penalty equal to the block subsidy, so the miners entire revenue would ...
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  • 2,471
5 votes
Accepted

Is it possible to set the priority / fee multiplier below 1?

Consensus rules don't disallow it, so a lower fee than priority 1 would be a valid TX in a block. If you're a miner, you're free to mine 0-fee TX-es. On the other hand, as a non-miner, getting into a ...
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  • 19.8k
4 votes

What happens if a very large transaction is over 2x the median block size?

What happens if a transaction containing an extremely large numbers of outputs and a very large mixin exceeds the current dynamic blocksize limit? If simplewallet is creating this tranasction (or any ...
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  • 5,656
4 votes

Does the dynamic blocksize limit and penalty function lead to a tragedy of the commons?

With sufficient demand, one would end up with a boundless block size, and a minuscule block reward, a tragedy of the commons. What am I missing? I would argue you are missing physics. At some point, ...
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  • 5,656
4 votes

Why are pools not mining large blocks?

Because it's not economic for the pool or miner. There's also a "hard" cap (which goes up with median) at 2x the median. If a miner mines a too big of a block, he loses some base block reward (...
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  • 19.8k
3 votes

Vcash privacy and scaling compared with Monero?

Does any sufficiently detailed specification of ChainBendover even exist? (this is an answer, not a question) ChainBlender was afaik never sufficiently documented to even determine whether it could ...
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3 votes
Accepted

What does 'dynamically scalable' mean?

The blocksize can automatically adjust over the course of time by the miners including more or less transactions than what has recently been the norm however they have to pay a penalty fee if they ...
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  • 750

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