RE: Feeless Transactions Called Into Question: Hive As A Social Media Network
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When HIVE goes mainstream and the blockchain is over capacity, would it become impossible to move HIVE or HBD around without increasing HP?
Which means increasingly more and more HP needed to be locked to use the chain without going through side chains even for the basic function of moving value.
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With high level of activity the most probable scenario is that Hive will start routinely hitting block size limit for prolonged periods of time creating backlog of transactions that will start expiring before getting included in the blocks. In such case more HP won't help you since there is no mechanism to prioritize transactions of people with more stake (such mechanism could be individually introduced by some witnesses without breaking rules of consensus, but I doubt anyone with proper knowledge would waste their time on it). Note that such thing already happened in the past, but only because witnesses vote to keep max block size at a minimum, which is 64kB. They can change it at any moment for up to 2MB - a 32 times increase.
With increased block size and constant high activity we would indeed see RC costs going up as resource pools get consumed faster than they refill. Then you would need to increase your HP to be able to afford unchanged level of on chain activity. Even in such scenario you will first see people having problems posting large articles or creating accounts. Transfers are one of the cheapest operations, so Hive would become completely unusable as a social media platform months before RC costs could make transfers prohibitively expensive.
It doesn't mean you could not exhaust your RC mana on transfers alone. I've seen even orca level accounts with so much activity that they are constantly running on fumes, so a free account with no HP can run dry pretty easily even at current costs.
Interesting! Thanks!
You are talking two different things.
Overcapacity is something we hopefully never reach. Blocktrades has been focused upon that since day 1.
As for the need for HP, yes that is the case. Regardless of the usage of the network, we are seeing the need for RCs to engage. Those with under 10 HP have an issue so more needs to be powered up.
Hence the ultimately buy demand on HIVE.
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