Author: Antoine Riard 2021-09-23 04:29:39
Published on: 2021-09-23T04:29:39+00:00
The proposed package mempool acceptance and fee-bumping scheme for Bitcoin transactions is the topic of discussion. The approach involves accepting a package of parent and child transactions, with the option to replace individual transactions in the package later. There is a debate on whether to accept a package with lower feerate if an individual transaction in the package has a higher feerate. Some concerns are raised about the potential risks of using packages to fee-bump replaceable transactions, such as Lightning Network commitments.The conversation includes technical considerations involved in implementing package-based fee bumping for Bitcoin transactions. Gloria proposed that packages may contain transactions that are already in the mempool and need to be deduplicated using wtxid. Antoine raised concerns about the deduplication process and suggested preserving the package integrity while bypassing tx-level checks for already-in transactions. The proposal by Gloria Zhao suggests mempool policy changes to allow package validation, which would enable packages consisting of multiple parents and one child. The end goal of Package Relay is to consider multiple transactions at the same time, e.g., a transaction with its high-fee child, to better determine whether transactions should be accepted to the mempool. A combination of changes to mempool validation logic, policy, and transaction relay allows us to better propagate the transactions with the highest package feerates to miners, and makes fee-bumping tools more powerful for users.The proposed changes to the Package Mempool Accept project are detailed in a draft implementation that is currently a work in progress. Packages may contain transactions that are already in the mempool, and only packages of a specific topology are permitted, specifically one child with all of its unconfirmed parents. Fee-related checks use the package feerate, which is the total modified fees divided by the total virtual size of all transactions in the package. Parents are allowed to replace-by-fee (RBF) mempool transactions with a set of rules similar to BIP125, which enables a combination of Child Pays For Parent (CPFP) and RBF where a transaction's descendant fees pay for replacing mempool conflicts.The Bitcoin Core team has proposed a new RBF policy for the Bitcoin network. The policy includes five rules that must be met for an RBF transaction to be accepted by nodes on the network. The proposal has generated some discussion among Bitcoin developers. Some have praised the new RBF policy as a way to make the Bitcoin network more efficient and user-friendly. Others have expressed concerns about potential abuse of the policy, such as using it to spam the network or engage in other malicious activities. To address these concerns, the Bitcoin Core team has suggested several additional measures, including implementing package-level filtering and requiring RBF transactions to have a higher fee than their original versions. They have also emphasized the importance of educating users about the risks and benefits of using RBF transactions. Overall, the proposal represents an effort to improve the functionality and usability of the Bitcoin network while maintaining its security and decentralization.
Updated on: 2023-06-15T01:59:30.902374+00:00