It is clear that charging min fee won't maximize total miner's fees because it
ignores heterogeneity in willingness to pay among bidders within the same
block. Also, spamming can still occur by setting a large number of transactions
to the min fee. Competition between spammers might drive up
Hi All,
Auction theory is a well-studied problem in the economics literature. Currently
what bitcoin has is Generalized first-price auction, where winning bidders pay
their full bids. Alternatively, two approaches are potentially viable, which
are Generalized second-price auction and Vickrey–C
