Author: Larry Ruane 2022-03-22 19:04:26
Published on: 2022-03-22T19:04:26+00:00
A proposal has been put forward for Bitcoin Core mempool to replace an existing transaction with one that has the same txid, but a sufficiently smaller witness and thus a higher feerate. The proposal is miner-incentive compatible meaning miners would prefer to mine a transaction with a higher feerate, however, there are concerns around code complexity cost and transaction-relay DoS. A potential advantage of this change is that it may provide a defense against a mempool pinning attack. Bip125 allows an incoming transaction to replace one or more existing conflicting transactions if certain DoS-mitigation conditions are met. Witness-replacement is similar to RBF, but differs in a few ways. With witness-replacement, it's not necessary to evict mempool descendant transactions because their inputs' txid references to their parent who is being replaced remain valid. Signaling isn't required by witness-replacement since the outputs can't change. This could be a per-node setting, but it's desirable for the node network to agree on relay policies.
Updated on: 2023-05-22T18:38:27.489784+00:00