Author: Billy Tetrud 2022-02-26 05:35:51
Published on: 2022-02-26T05:35:51+00:00
The discussion on the Bitcoin-dev mailing list centered around rational wallet behavior that maximizes balance and payments. Rational wallets prioritize spending untrusted outputs to CPFP them to the top of the mempool for guaranteed payment, free of cost. Wallets should also track replaced payments and prevent double-spend behavior. Clear messaging around transaction finalization can solve problems more easily and generally. The post also discussed the importance of saving all ancestors and descendants of transactions paying the user for balance maximization and "free" CPFP subsidies. Wallet agents should retransmit transactions to the network if they believe other nodes are not aware of them and they are likely to go into a block.Certain wallets already have parts of this functionality baked in, such as Lightning Channels. However, congestion control using CTV does not cause wallet behavior complications but helps solve an existing problem by reducing the need for rational behavior like CPFP bumping. In a full mempool world, exchanges that batch can fully confirm a constant-sized root transaction, and sub-trees of transactions locked in by CTV can be treated as fully trusted. This helps reduce the need for CPFP bumping and exerts a dramatic back pressure on transaction urgency by unbundling the blockspace demand for spending and receiving coins.The email primarily discussed existing wallet behaviors and user preferences, not CTV. Rational wallet behavior is defined as maximizing fully trusted balance, processing payments within the urgency budget, and maximizing privacy. A rational wallet may prompt users for metadata, such as trust score or recent hashrate data.
Updated on: 2023-05-22T17:43:06.002850+00:00