Author: Luke Dashjr 2017-12-24 07:21:24
Published on: 2017-12-24T07:21:24+00:00
Damian Williamson, a developer, proposed BIP 177 which aims to resolve transactional reliability in Bitcoin where valid transactions may be stuck in the mempool for an extended period. The proposal seeks to address two key issues: the current transaction bandwidth limit and the current ad-hoc methods of including transactions in blocks resulting in variable and confusing confirmation times. The proposal aims to create a stable fee for priority service auction model instead of an auction model for limited bandwidth. To protect the value of fees, the change should protect miners as they will eventually be the only payment miners receive. Damian Williamson intends to post the full proposal on his blog in the coming days and review feedback received on and off thread. However, he reminds that BIP 177 is NOT assigned and warns not to self-assign BIP numbers.
Updated on: 2023-06-12T23:20:49.326304+00:00