Author: Jeremy 2022-01-19 02:51:42
Published on: 2022-01-19T02:51:42+00:00
Bitcoin developer Jeremy Rubin proposed an account system as an extension block to establish a more general way to add fees to any transaction, regardless of whether or not the individual is related to that transaction. The proposal suggests defining a special anyone can spend output type that is a "fee account" and allows accounts to sign only two kinds of transactions. A "sponsor" type of transaction was previously proposed to allow arbitrarily appending fees to a transaction to bump it up in the mempool. According to Rubin, the proposed account system would make writing smart contracts easier because it enables expressing the logic one wants for the transaction without including the fees. Mempool logic is updated to allow attaching account fee spends to transactions, and the mempool can restrict that an account is not allowed more spent than its balance. The proposal could also be modified to improve privacy and scalability. The design space is very wide on the approach, but the sketch presented could be improved greatly.
Updated on: 2023-06-15T03:54:52.990109+00:00