Author: Jeremy Spilman 2013-10-25 19:35:34
Published on: 2013-10-25T19:35:34+00:00
The discussion revolves around the need for better fee estimation and decreasing the need for recovery. The idea is to make techniques like signing multiple transactions with different fee levels less useful by improving fee estimation. Fee estimation can be improved by considering the size, type, age, number of inputs vs outputs, output amounts, miner fee policies, and actual competing transactions on the blockchain. However, if the basis for calculating the fee is not fundamentally compatible with relay and transaction-inclusion policies being run by large mining pools, it may result in contention that bumps out of a few blocks. Wallets should handle double-spends gracefully to make transaction replacement user-friendly; otherwise, users will have to constantly monitor tx propagation and recreate their transactions with different fees, which would make many use cases inconvenient. Transaction replacement needs to be combined with some form of fee estimation to give users a way to recover from bad estimates. The payment protocol is designed for the sender to give the receiver a copy of every transaction they make so the receiver can be held responsible for getting them mined. This can be done using child-pays-for-parent, out-of-band fee payment, or adding inputs to the transaction (SIGHASH_ANYONECANPAY).
Updated on: 2023-06-07T18:12:55.941779+00:00