Author: Tier Nolan 2015-05-27 10:00:16
Published on: 2015-05-27T10:00:16+00:00
In a Bitcoin-development mailing list, Gregory Maxwell proposed the use of a new transaction version number to indicate the change of a field from sequence number to relative lock time. The proposal aims to make sequence numbers work exactly as expected within the bounds of what is possible in a decentralized system. The construction gives the sequence numbers a rational meaning, counting down the earliest position a transaction can be included. However, if this rule were applied to legacy transactions, it could cause them to become unspendable. The proposal is not considered "consensus enforcement" but simply relative nlocktime. A miner could opt not to include the highest sequence number in the hopes of collecting more fees later on the next block. But in both cases, it must take nothing at all this block and risk being cut off by someone else. All consensus is enforced by this proposal.
Updated on: 2023-06-09T21:39:55.509942+00:00