Published on: 2023-05-12T00:06:51+00:00
On the bitcoin-dev mailing list, a user named vjudeu proposed a new method of replacing transactions with multiple smaller transactions. The proposal suggests that transactions paying "fee > sum" can be replaced by N transactions paying "fee < sum". This would allow users to split up large transactions into smaller ones, potentially saving on fees.The discussion sparked among members of the bitcoin development community, with some expressing concern about the potential impact on the network's mempool and block size. Others pointed out that this approach could improve fee estimation for users and reduce the risk of overpaying for transactions.The conversation also revolves around the use case of paying more fees than outputs to incentivize honest mining during state-level censorship attacks. It is suggested that instead of changing the "max fee" rule, a better solution would be to introduce op_ctv, which allows many users to pool fees and share a single utxo.Furthermore, it is explained that even if the "max fee" rule were changed, it could still be avoided by splitting the transaction into multiple transactions, each paying one satoshi per virtual byte. Maintaining balances and using change addresses would not be a deterrent as the transactions could be prepared upfront as part of the protocol and released all at once. This can be achieved through HD wallets, which only require storing a single key and generating addresses as needed.The proposal raises interesting questions about the tradeoffs between transaction size, fees, and network congestion. It remains to be seen whether this idea will be implemented or how it might affect the broader bitcoin ecosystem. However, it is clear that innovation and experimentation are still alive and well in the world of cryptocurrency development.Overall, the discussion explores the possibility of changing the "max fee" rule to output amounts in Bitcoin transactions. While some argue that it could help prevent spam and denial-of-service attacks, others raise concerns about the potential impact on fees, mempool, and block size. The proposal also touches on alternative solutions such as op_ctv and the use of multiple smaller transactions with lower fees. The conversation showcases the ongoing debate and exploration of new ideas within the bitcoin-dev community.
Updated on: 2023-08-02T09:25:11.308357+00:00