Author: Alan Evans 2018-01-24 13:43:29
Published on: 2018-01-24T13:43:29+00:00
The discussion on the bitcoin-dev mailing list revolves around BIP125 replacement, which requires an increase in fee rate. The original post mentions having one transaction in the mempool and then broadcasting a new transaction to replace it. However, the confusion arises from the use of "original transactions" as there should only be one transaction in the mempool at a time. The new transaction's fee and rate must be larger than the original, but increasing the fee rate will already cause a larger fee. There is concern about the incentive compatibility of BIP125 since it does not seem rational to accept a replacement transaction with a lower fee rate in a competitive mempool. Initially, Peter Todd considered only requiring an increase in fee rate, but ultimately decided on both a feerate and absolute fee increase criteria for simplicity.
Updated on: 2023-06-12T23:59:31.057808+00:00