Posted by Sjors Provoost
Jan 31, 2025/14:40 UTC
In a recent discussion on the Bitcoin Development Mailing List, Sjors Provoost brought up an insightful point regarding transaction fees and how they are managed on the network. He suggested that instead of dismissing low or zero-fee transactions outright, some may utilize the prioritisetransaction
RPC to selectively include these transactions in blocks, provided they receive compensation through alternative means such as the Lightning Network or credit card payments. This approach highlights a more nuanced understanding of transaction prioritization beyond mere transaction fees.
Furthermore, Provoost also reminded us not to overlook the technical resources required to process transactions, specifically bandwidth, memory, and CPU usage. These factors play a crucial role in the overall efficiency and cost-effectiveness of managing transactions on the blockchain. By considering these elements, it's clear that the economics of blockchain technology and cryptocurrency transcends simple transaction fee structures, delving into the optimization of various system resources to maintain network health and performance.
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