Author: Michael Folkson 2021-06-29 09:44:11
Published on: 2021-06-29T09:44:11+00:00
The second workshop on Bitcoin package relay and fee bumping was recently held, with a focus on these two topics. The workshop's attendees discussed the potential usefulness of package relay for Layer 2 protocols, which can help address the unpredictability of future fees. There have been previous works done on package relay in the past, mainly by Suhas Daftuar. Recently, Gloria Zhao has been advancing package relay in Bitcoin Core. Attendees agreed that enabling two transaction packages would be sufficient for Lightning and DLCs, although there were some concerns about the increased implementation complexity of larger package sizes. They also discussed the possibility of using two packages {A,B} and {B,C} if three transaction packages weren't supported. Additionally, they suggested communicating only hints, such as fee rate hints, rather than relaying entire transactions. There were also discussions on witness replacement and Taproot. It was suggested that replacing a larger witness with a smaller one could reduce transaction fees. A future soft fork could give meaning to the annex in Taproot, which could be used for inflating the fee rate of a witness. Wrapping up the workshop, the attendees agreed that two transaction packages would be sufficient for currently deployed L2 protocols. Discussions are ongoing regarding the deprecation of opt-in RBF and the implementation of full RBF. The attendees also discussed the status quo and ad hoc security incident response policy in the case of cross-layer security issues and recommended L2 protocol designers minimize assumptions on the base layer.
Updated on: 2023-06-14T23:45:15.146923+00:00