How Does Block Space Availability Directly Influence the Miner’s Zero-Fee Decision?
Block space availability is the primary factor influencing a miner's decision to include a non-whitelisted zero-fee transaction. If the block is full, the opportunity cost of including a zero-fee transaction is the foregone revenue from a fee-paying transaction, making the zero-fee inclusion irrational.
If, however, the block is not full (low-traffic environment), the opportunity cost is zero. In this case, a miner might include the zero-fee transaction simply to fill the block, as it does not displace any profitable transactions.
Glossar
Availability
Latency ⎊ Availability, within cryptocurrency and derivatives, fundamentally concerns the speed at which a system can respond to requests, impacting order execution and arbitrage opportunities.
Block Space Availability
Capacity ⎊ Block space availability, within cryptocurrency contexts encompassing options trading and financial derivatives, denotes the quantifiable volume of storage accessible on a blockchain network for transaction data and smart contract execution.
Block Space
Capacity ⎊ Block space, within cryptocurrency networks, fundamentally represents the finite data storage available on a blockchain to accommodate transaction records and smart contract execution.