Author: David A. Harding 2021-07-25 05:38:03
Published on: 2021-07-25T05:38:03+00:00
In a Bitcoin development mailing list, Billy Tetrud proposed constraining the amount of fees that an output contributes to. The fee is specified relative to recent median fee rates, and the proposal defines "medianFeeRate" as the median fee rate per vbyte for the most recent window length blocks. The "maxFeeContribution" is defined as medianFeeRate * 2^feeFactor of the fee, which limits the fee rather than the fee rate. Dave points out several potential issues with the proposal, including the storage requirements for full nodes and its impact on miner incentives. He also suggests that the fee mechanism is redundant since there are already two other mechanisms to choose feerates. These include a mutual spend clause where all parties agree on a spend of the output and set an appropriate feerate, and a fee override that allows paying additional fees beyond what OP_CONSTRAINDESTINATION allows.
Updated on: 2023-06-15T00:22:44.306082+00:00