Author: Eric Voskuil 2017-01-04 06:06:31
Published on: 2017-01-04T06:06:31+00:00
The discussion on the bitcoin-dev mailing list highlighted the importance of unconfirmed transactions in real-world use cases. While a non-validating SPV wallet may not be able to confirm the validity of an unconfirmed transaction, it is still useful to know that the transaction has been initiated and propagated across the network. This is particularly relevant for merchants who accept credit card payments despite the risk of reversal up to 60 days later. However, there are concerns about privacy trade-offs when displaying unconfirmed transactions in wallets. The proposed BFD system offers a potential solution for mempool filtering without compromising privacy. It can be used as a replacement for BIP37 and enables cached filtering between clients without needing to be recomputed. Nevertheless, it is important to recognize that different use cases for bitcoin have varying profiles for time sensitivity and fraud risk. Ultimately, the success of any proposed system will depend on its ability to balance these factors effectively.
Updated on: 2023-06-11T04:57:59.508143+00:00