Fees and the block-finding process



Summary:

In an email chain on August 7, 2015, Pieter Wuille via bitcoin-dev mentioned the possibility of using ultra-low-priority unreliable transactions despite DoS attacks. James G. Phillips IV responded by suggesting that there are various protocols that broadcast information without caring about delivery, such as UDP on TCP/IP. He proposed low-priority notifications that can be sent to the entire Bitcoin universe but don't need to persist. The protocol allows for a signed and verified message and a way to broadcast it to every node interested in seeing it. If it doesn't make it into a block, so be it. If it does, so be it. In his email signature, he added a quote from David Ogilvy, "Don't bunt. Aim out of the ball park. Aim for the company of immortals." and reminded readers to think twice before printing as his message was created with 100% recycled electrons.


Updated on: 2023-06-10T18:31:10.801318+00:00