Author: Jorge Timón 2013-03-13 09:20:17
Published on: 2013-03-13T09:20:17+00:00
In this conversation, Stephen Pair proposes a new way of thinking about transactions in Bitcoin. Rather than blocking uneconomical transactions, he suggests paying for a feed of profitable transactions. He argues that there is a market for fee-bearing transactions and that such a system would make it possible to determine the probability of confirmation in a given timeframe for a given fee. Peter Todd responds by discussing the costs of UTXO creation and proposing a standard transaction type for unspendable but not provably so txouts. He suggests using this type for timestamping and secure data backups, noting its advantages over coinbase/merkle tree systems. The conversation ends with Stephen Pair's signature and links to his website, Bitpay, as well as Jorge Timón's websites, Freicoin and Ripple-Project.
Updated on: 2023-06-06T10:33:44.332040+00:00