Author: Jeff Garzik 2012-04-13 16:41:19
Published on: 2012-04-13T16:41:19+00:00
Jeff Garzik, a bitcoin developer, suggests that transactions should expire and not enter a block if they don't make it in. The proposal would impact few TXs on the existing network, but is considered a useful policy step. He also believes that the current fee system is an ugly hack, which he admits has limited means to determine an ideal fee. While there are other valid economic models out there that may successfully sustain the network, he thinks that the user experience is pretty poor. Suggested methods for improvement include sending TXs directly to the merchant or an instant-payments layer evolving on top of the base bitcoin block chain layer.
Updated on: 2023-06-06T04:02:16.045000+00:00