Author: Mike Hearn 2013-10-24 14:38:16
Published on: 2013-10-24T14:38:16+00:00
In an email exchange from 2013, Peter Todd proposed a way to improve blockchain-based fee estimates in out-of-band mining contracts. His suggestion was to have miners advertise in their coinbase what fees were actually paid rather than appear to have been paid. However, one concern raised was that some miners may have business models that cannot be easily summed up as a "fee." Additionally, there were concerns that the estimation might force fees down too far if miners include private transactions. It was noted that the estimates were calculated only on broadcast transactions, so transactions that just appear in a block won't ever influence the estimate. Overall, the discussion highlights the complexities involved in determining and implementing effective fee structures within blockchain technology.
Updated on: 2023-06-07T18:12:03.798576+00:00