Author: adiabat 2017-01-03 23:06:26
Published on: 2017-01-03T23:06:26+00:00
The discussion in the Bitcoin-dev mailing list revolves around the importance of unconfirmed transactions, their impact on real-world use cases, and how to handle them from a privacy perspective. Mempool transactions, which are currently shown by light/SPV wallets, can be misleading as only a full node can confirm their legitimacy. The suggestion is to avoid mempool filtering altogether, and instead rely on committed bloom filters which could improve lightning network use cases where not being aware of a transaction can result in financial loss. Aaron Voisine argues that unconfirmed transactions are important for instant transactions, and merchants are willing to accept credit card payments of thousands of dollars despite the risk of reversal up to 60 days later. There is a trade-off between privacy and the need for instant confirmation of transactions, which serves different use cases with varying time sensitivity and fraud risk.
Updated on: 2023-06-11T04:57:50.885964+00:00