Such a thing already exists, blocksize has little to no effect on propagation time to other miners.
http://bitcoinrelaynetwork.org/
Edit: not that this is not IBLT but another actually implemented setup
Such a thing already exists, blocksize has little to no effect on propagation time to other miners.
http://bitcoinrelaynetwork.org/
Edit: not that this is not IBLT but another actually implemented setup