Author: Mike Hearn 2012-04-14 15:13:47
Published on: 2012-04-14T15:13:47+00:00
The discussion revolves around the A->B chain of transactions that collectively meet the network's fee requirements. The idea is to explore a market-based and negotiated fee system, but people have trouble finding a better system. The proposal is for people to commonly pass transactions around outside the broadcast network and only broadcast when there's a lack of trust between recipient and sender. The block chain is an optional service after all. In addition, the ideas proposed involve far more direct payee-payer communication on the part of the wallet client than currently envisioned. However, it is worth remembering that the original Bitcoin design did have participants communicate directly. Satoshi saw the pay-to-IP-address mode as the normal way to make payments, with pay-to-address used as a backup for when the recipient was offline. In the end, things evolved differently, but the pendulum could easily swing back the other way.
Updated on: 2023-06-06T04:04:00.727400+00:00