Good to see a fresh approach towards the scaling debate.
Shiva S

Thank you for pointing me to the fee market paper.

Mining small blocks is indeed profitable to miners if the fee density of transactions in mempool is low. However, this increases the dead weight loss to the system as a whole and could lead to phenomenon similar to tragedy of commons.
Having a fixed fee density ( something similar to gas while deploying smart contracts in Ethereum Blockchain) could be an interesting approach to incentivise miners to include maximum transactions in block, but the downfall being that transactions couldn’t be prioritized.

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