Author: James O'Beirne 2022-02-17 18:18:11
Published on: 2022-02-17T18:18:11+00:00
When running an unmodified version of bitcoind, miners do not need to worry about anything except for ancestor fee rate. This is because the BlockAssembler orders transactions for inclusion by descending ancestor fee-rate and then adds them greedily to the block template. It is believed that miners are not spending time on optimal transaction selection as it requires a lot of time and does not leave much time for mining. Mempool acceptance is based on minimum fee rates, and mempool eviction happens on the basis of max(self_feerate, descendant_feerate). Therefore, even in the mempool, the focus is on fee rates rather than absolute fees. While it may be argued that mempool maintenance criteria should be considered, fee rates are still crucial for transaction replacement since they are quick and efficient.
Updated on: 2023-06-15T16:33:36.010106+00:00