Author: Gavin Andresen 2012-06-15 20:56:25
Published on: 2012-06-15T20:56:25+00:00
Gavin Andresen has proposed changes to Bitcoin's fee system, which he believes doesn't handle the two typical use cases, for transactions that want to be confirmed quickly and those who don't want to pay a fee unless they have to. The proposal is to let miners decide on how many free transactions they'll support, by letting them specify how much of each block to set aside for 'free' transactions (bytes) and what the threshold for 'free' is (bitcoins/kilobyte). Secondly, change the block creation code to calculate a bitcoin-fee-per-kilobyte for each transaction, where the fee and size are both calculated based on the transaction and its dependent descendants. Finally, fill up the "free" space with the highest priority transactions, where priority is a function of transaction size, age of inputs, number of bitcoins, and ratio of inputs to outputs. This should encourage users to combine inputs so more pruning is possible.
Updated on: 2023-06-06T05:16:08.866290+00:00