Author: darosior 2021-10-26 14:09:28
Published on: 2021-10-26T14:09:28+00:00
The idea of eliminating the mempool and submitting transactions directly to mining pools has been proposed in a recent bitcoin-dev conversation. While it would reduce the bandwidth requirement for running a node and keep transaction intentionality private until confirmed, concerns have been raised about centralization pressure and higher barriers to entry. Additionally, there may be a failure mode if L2 protocols incentivize users to directly connect to mining pools. One potential solution could be an opt-in and publicly accessible "overlay" network to relay miner-incentive compatible transactions with higher DOS limits. Initial feerate estimation would need to be based on published blocks or direct interactions with block producers. However, removing the mempool would greatly complicate solo mining and make BetterHash proposals more difficult while also providing a target for DoS attacks. A direct communication channel between block template construction venues and transaction proposers could provide a mechanism for enforcing minimum security budgets.
Updated on: 2023-06-15T02:54:06.198489+00:00