Author: Andrew Baine 2017-03-28 14:57:09
Published on: 2017-03-28T14:57:09+00:00
The Bitcoin ecosystem is better off when transactions are propagated peer-to-peer rather than directly to miners, as it allows miners to listen to the network and not solicit transactions from users. A user's preference for certain miners or pools is becoming more prominent, leading to discussions on "miners as service providers." Two proposed methods for providing this service include creating segregated mempools managed by an authenticated third-party, and creating transactions where the mining fee is an output to an address owned by preferred miner(s). However, there are potential pitfalls with both methods, including the need for trust in multiple parties and extra fees for users. The goal is to have a deeper level of regulation within the p2p protocol layer, allowing for a more regulated consensus space. Some believe that certain miners will become preferred by users regardless of whether the Bitcoin developer community facilitates it or not. The recent language used in opinions by the ECB and drafts by the EU suggests that commercial interest must have a way to transact on somewhat regulated space.
Updated on: 2023-06-11T22:20:43.703699+00:00