Author: Greg Sanders 2022-02-10 23:09:06
Published on: 2022-02-10T23:09:06+00:00
The email discusses the issue of fee-bumping and the increasing complexity of the current status quo and proposed remedies. The author suggests a few design principles that prioritize end-user experience and incentivize miners while avoiding wasted bandwidth, chainspace, and special transaction structures. The author proposes a transaction sponsors design, allowing feerates to be bumped after a transaction's broadcast without requiring rebroadcast or prophylactic anchor outputs. The interface is straightforward for users, and the design has flexibility and merits further thinking despite some objections. The author acknowledges that a soft-fork may be required, but the current complexity in fee management feels untenable, and fees are increasingly crucial to the system.
Updated on: 2023-06-15T16:29:31.944485+00:00