Author: Aaradhya Chauhan 2022-07-30 07:55:55
Published on: 2022-07-30T07:55:55+00:00
In a discussion on the Bitcoin subreddit, Aaradhya Chauhan suggested that 1 sat/vB, which was once a good dust protection measure, is now too high and can be easily lowered. However, David A. Harding clarified that Aaradhya and Peter Todd were conflating the minimum output amount policy (dust limit) with the minimum transaction relay feerate policy (min tx relay fee). Removing the dust limit was previously discussed, but lowering the minimum relay feerate was seriously proposed four years ago. This proposal faced challenges such as preventing denial/degradation-of-service attacks, dealing with a fragmented userbase, and adverse effects on BIP152 compact blocks and erlay efficiency, transaction pinning, and IBD time due to more block chain data. Compared to the complexity of lowering the minimum feerate, the economic benefit of reducing the feerates for the bottom of the mempool seems small. If the min relay fee is lowered to 1/10th its current value, users would save $1,800 USD per day while miners would earn an extra $200 USD per day.
Updated on: 2023-06-15T23:25:59.431763+00:00