Author: Jameson Lopp 2020-05-27 18:52:03
Published on: 2020-05-27T18:52:03+00:00
Developing a Bitcoin wallet or service involves various challenges, particularly in transaction construction. One of these challenges is determining an appropriate fee for a specific block space. This task is difficult due to market volatility, forecasting the future, and other factors. To solve this problem, Jameson Lopp has created a user-friendly tool at https://jlopp.github.io/bitcoin-transaction-size-calculator/. The tool calculates the size of a transaction with specific attributes. Jameson Lopp's tool is much-needed as he had to go through scattered answers on stack overflow posts every time he encountered this issue. Besides, the folks at Bitcoin Optech have also developed a calculator to help solve the same problem. They too offer a user-friendly tool at https://bitcoinops.org/en/tools/calc-size. A common problem requires better tools such as these calculators. Jameson is not confident about his calculator code and urges capable and inclined individuals to review it. In conclusion, developing a Bitcoin wallet or service involves several challenges, one being the right amount of transaction fees. Determining the appropriate fee is crucial and challenging because of market volatility, forecasting the future, and other factors. To solve this issue, Jameson Lopp and Bitcoin Optech have developed user-friendly tools to calculate the transaction size with specific attributes. These tools are essential and require reviews from capable and inclined individuals.
Updated on: 2023-05-20T23:20:53.971487+00:00