Author: Eric Lombrozo 2015-07-24 00:56:02
Published on: 2015-07-24T00:56:02+00:00
In an email discussion, Jean-Paul Kogelman explains the notion of quality of service in terms of Bitcoin transaction fees. He provides examples of different fee settings that can be chosen by miners to include transactions in blocks at different times. The block count starts when the transaction is first seen and miners have the ability to set X, Y, Z. A healthy fee market depends on miners setting different values and adding more transactions to blocks as opposed to other miners with higher settings. The scheme of using services that guarantee inclusion for a predetermined price and do the bidding on behalf of the user is being considered. Contracts can be used to guarantee inclusion within a certain number of blocks or receive a full refund or compensation for failure to deliver.
Updated on: 2023-06-10T03:21:21.609448+00:00