Author: Mike Hearn 2012-04-13 10:04:07
Published on: 2012-04-13T10:04:07+00:00
The bitcoin protocol could be improved by having transactions expire in the case where a transaction is broadcasted but not accepted by miners for some reason, such as insufficient fees. A change in default fee schedules can mitigate this risk, and careful planning can help with any changes that may need to be made. Encouraging users to attach fees to transactions is not ideal, as the user experience can be negative. Merchants may have to repeatedly increase fees for stuck transactions, causing inconvenience for customers. One solution could be for merchants to handle fee calculations themselves, rather than forcing customers to think about it. This design would require a minor change to how fees are calculated inside the memory pool, but would ultimately benefit users, merchants, and miners.
Updated on: 2023-06-06T04:02:51.582023+00:00