Author: joliver at airmail.cc 2015-05-26 20:30:48
Published on: 2015-05-26T20:30:48+00:00
The context is a message from Peter Todd, the Chief Scientist of ViaCoin, to Mike Hearn regarding replace-by-fee and anti-scaling. Todd argues that such practices are for big banks who are clients of ViaCoin, not Bitcoin. He provides examples of how CPFP (Child Pays For Parent) is significantly more expensive than RBF (Replace By Fee), particularly for defragmenting outputs. Todd explains four cases where using RBF can save up to 90% of transaction fees compared to CPFP. The cases include paying multiple recipients in succession, paying multiple recipients from a 2-of-3 multisig wallet, and dust defragmentation. Todd concludes his argument by stating that Bitcoin should focus on keeping its decentralization and security.
Updated on: 2023-06-09T21:19:31.154869+00:00