Author: Billy Tetrud 2021-06-22 18:26:34
Published on: 2021-06-22T18:26:34+00:00
During a recent Bitcoin development meeting, various topics were discussed regarding L2 protocols, including network transaction fee rates and relay. It was noted that there will never be perfect security guarantees on network transaction fee rates or transaction relay and that L2 protocols such as Lightning and DLCs elevate transaction propagation and inclusion in a time-sensitive mined block to a security assumption from what used to just be a usability assumption. The meeting discussed how to strengthen this security assumption, knowing that guaranteeing it is out of reach. New ideas were raised during the meeting, such as fee-sensitive timelocks, which would need a soft fork, and the idea of a transaction relay overlay network. Some participants expressed their opinion that we should be leaning more on miners' profit incentive rather than attempting to normalize mempool policy. The impact of changes to Bitcoin Core on L2 protocols was also discussed, and some changes to Core can conflict with the goal of minimizing transaction propagation times.Regarding full RBF, a proposal for it was posted by a participant in a future version of Bitcoin Core, but participants pointed out that even with full RBF, it is trivial to create mempool partitions, and an attacker can split the mempool by broadcasting two conflicting transactions with the same fee. Finally, the next meeting on fee bumping and package relay will be held on Tuesday, June 22, 2021.
Updated on: 2023-06-14T23:19:42.991782+00:00