Author: praxeology_guy 2017-03-25 04:42:30
Published on: 2017-03-25T04:42:30+00:00
In this email thread, Martin Stolze proposes the idea of transaction tiering, which would allow users to choose who processes their transactions on the Bitcoin blockchain. He suggests that miners could create private communication channels for submitting transactions that they would not relay to other miners or the public node relay network. This would incentivize miners to not relay higher fee transactions in order to keep them for themselves and maximize profits. Stolze argues that people care who processes their transactions and that transaction tiering could promote competition among transaction processors to behave in accordance with user interest. However, Tim Ruffing responds that physical location is irrelevant in Bitcoin and that almost nobody cares who mines their transactions as it makes no technical difference.
Updated on: 2023-06-11T22:21:33.295992+00:00