Posted by Peter Todd
Jan 30, 2024/04:49 UTC
The utilization of fee-rate-dependent timelocks in Bitcoin transactions presents a challenge regarding the potential manipulation of observed fee-rates by miners. This approach implies an underlying assumption of miner honesty, which markedly deviates from the typical economic incentive-based security model that is generally applied within the Bitcoin ecosystem. The reliance on the integrity of miners to not interfere with fee rates introduces a vulnerability into the system that could be exploited. For further insight and discussions on this topic, interested individuals can engage with resources or reach out through Peter Todd's personal website or contact him via email at peter'[:-1]@petertodd.org.
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