Dynamic block: let’s say we have some crazy figure with in 1min. Let’s say 1million crazy but it’s a figure non the less. What i would love to know is how dynamic works. Would those 1million transactions fit into the 1min block with out any issues
Good point. Big blocks reduce decentralisation of the blockchain. That’s why in the bitcoin protocol blocks are only 1MB. I imagine there will be an upper limit to the block size.
Dan briefly touched on the dynamic block size in a Q&A a few weeks ago (link at bottom). From what i understand, the Safex Blockchain will be based on the fundamentals of CryptoNote.
CryptoNote takes a median average of the previous 100 block sizes, then adapts according to the demand. It also adjusts the difficulty based on the block size.
If you’ve got a backlog of transactions sitting in the mempool, the previous blocks are going to be full/maxed out. Therefore after an amount of time the median average block size increases until the backlog is cleared and average goes back down.
I don’t profess to know the full workings - this is just based on the default CryptoNote framework. The Safex Blockchain will be a heavily adapted version, so the way it might handle dynamic block sizes and difficulty MIGHT vary to a degree.