Published on: 2013-03-12T13:10:20+00:00
In a message sent on March 12, 2013, Bitcoin developer Peter Todd discussed the possibility of transaction replacement to add fees to existing transactions without increasing the risk of double-spends. He suggested using the stubbed out replacement code, which allows the replacement of a transaction only if a transaction spending the same tx is not already present in the mempool.Todd proposed changing the replacement logic for Bitcoin transactions to evaluate if the candidate replacement does not remove or decrease the value of any existing outputs. This change would prevent DoS attacks by only accepting replacements that increase the fees paid by at least MIN_RELAY_TX_FEE * size. Todd argued that this method is preferable to the fast expiration method previously proposed, as he believes it would lower the security of Bitcoin.While implementing this new replacement logic would require complexity and testing, Todd believes that achieving full branch coverage of the code would be straightforward. He also suggests that implementing this logic correctly could reduce the urgency of including child-pays-for-parent in Bitcoin.Overall, the proposed approach of allowing transaction replacement for adding fees appears to be a viable solution. By utilizing the replacement code and carefully checking for conflicts in the mempool, it should be possible to safely replace old transactions with new ones and add the necessary fees.
Updated on: 2023-08-01T04:32:02.578319+00:00