Author: Damian Williamson 2017-12-24 02:57:38
Published on: 2017-12-24T02:57:38+00:00
The proposed BIP 177 addresses the issue of transactional reliability in Bitcoin, where valid transactions may be stuck in the mempool for extended periods. There are two key issues to be resolved: current transaction bandwidth limit and ad-hoc methods of including transactions in blocks resulting in variable and confusing confirmation times. The proposal suggests a stable fee for priority service auction model instead of an auction model for limited bandwidth. It is important to protect the value of fees as they will eventually be the only payment that miners receive. Damian Williamson will post the full proposal on his blog soon and incorporate feedback received on and off thread. The previous threads for this BIP are available at the provided link.
Updated on: 2023-05-20T04:36:48.127942+00:00