New attack identified and potential solution described: Dropped-transaction spam attack against the block size limit

Author: Peter Todd 2015-06-08 22:26:22
Published on: 2015-06-08T22:26:22+00:00

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Summary:

In a message sent on June 8, 2015, Patrick Mccorry noted that with the 0.01mBTC/KB minimum relay fee and $230 USD/BTC, it works out to about $2.3kUSD/GB of ram. Mike Hearn then reduced the minimum relay fee to 0.01mBTC/KB. The fee is now $23/MB (assuming 1,000 tx * 2.3 cents) and $23k/GB (assuming $23 * 1000, as each $23 is 1mb). This highlights the increased expense involved in Bitcoin transactions.

Updated on: 2023-06-09T22:38:14.695555+00:00