Author: Alex Morcos 2014-10-28 14:30:14
Published on: 2014-10-28T14:30:14+00:00
The discussion involves the functioning of the fee market and how fees are hard-coded in git HEAD code. Alex's approach is considered better as it enables users to estimate the least amount they can pay while still being 90% sure about getting confirmed in 20 blocks. However, Gavin Andresen expresses his concern over the time taken by Alex's code to get primed. The code identifies the median bucket and returns the average feerate for that bucket. Although it combines buckets until it has enough data points, it may take several hours to provide a good estimate for getting confirmed in one block since the prevalent feerate is not always confirmed in one block >80% of the time. It is suggested to make the 90% number an argument to rpc call, with a default of 80%, which might make it easier for people to build more complicated logic on top of it.
Updated on: 2023-06-09T03:38:02.047075+00:00