Author: Daniel Lipshitz 2022-12-01 12:27:16
Published on: 2022-12-01T12:27:16+00:00
Daniel Lipshitz, the CEO of GAP600, a company that guarantees zero confirmed Bitcoin and other crypto transactions, has expressed concerns over the potential impact of full RBF (Replace-by-Fee) becoming default enabled and significantly adopted. He explains that this could have a major impact on the capacity to accept zero-conf (zero confirmation) deposits on mainnet and force use cases to move to a different chain, with lightning being just another option.GAP600's clients are primarily payment processors and non-custodial liquidity providers, but there are also merchants who have developed their own tools. Daniel shares some statistics about the significance of this use case, revealing that as of the end of November 2022, GAP600 had processed approximately 15 million transactions with a cumulative value of $2.3 billion USD. They currently see around 1.5 million transactions queried per month.Daniel notes that he does not know of any wallet, exchange or custodian who accepts zero-conf without having some sort of solution in place. The market seems to be fully aware of the risks of zero-conf. The opt-RBF seems to be a solution which gives a clear free choice for actors.In conclusion, Daniel urges the consideration of the major risk being placed on this significant market share when deciding to make this feature default enabled and encouraging full adoption.
Updated on: 2023-05-22T21:37:32.548205+00:00