Author: Peter Todd 2021-12-09 13:50:33
Published on: 2021-12-09T13:50:33+00:00
In a discussion on bitcoin-dev, the problem of ensuring confirmation of Cancel transactions for delegated vaults in a configured number of blocks was addressed. The aim is to minimize overpayments and the UTxO set footprint to reduce the burden on watchtower operators and full node runners. The cost of failing to get confirmation by the deadline, X, was discussed and it was suggested that paying a fee of X immediately would result in the highest possible probability of securing confirmation prior to the deadline. However, this approach was deemed impractical. Instead, a trade-off between variance (probability of failure) and expected cost was suggested, with a linear increase in the fee as one possible solution. The user experience and potential user discomfort were also considered. The OpenTimestamps calendars were mentioned as an example of a similar trade-off between cost and confirmation time using a constant rate of fee increase.
Updated on: 2023-06-15T03:09:36.770901+00:00