bitcoin-dev
Combined summary - TRUC and P2A for CTV fee management
The email delves into specific technical aspects of Bitcoin development, particularly focusing on the testing of packages and Pay-to-Address (P2A) functionality with the use of CHECKTEMPLATEVERIFY (CTV) on Signet.
It highlights an issue identified in the README documentation concerning an incorrect example that involves an output value discrepancy. This error is exemplified through a transaction, with its details accessible via a provided Mempool Space link for direct review and verification. The communication originates from a member of the Bitcoin Development Google Groups thread, indicating it's part of a broader discourse among professionals engaged in the evolution of cryptocurrency technologies.
The message further explores the intricacies of OP_CTV ("securethebag"), especially addressing the limitations arising from transaction fees and the inability to dynamically adjust these fees due to the precommitment to a specific tree of outputs and inputs mandated by OP_CTV. This challenge is significant in the context of long-term coin vaulting where the fee market's unpredictability could lead to complications. Discussions around this topic include references to Jamesob's research on a simple CTV vault and Rustyrussell's comments on nostr, which suggest looking into optimized sponsors as a viable solution for adding fees without promoting miner centralization.
Moreover, the introduction of v3 transactions in Bitcoin 28.0 heralds new mechanisms for tackling the fee adjustment issue inherent to OP_CTV transactions. The capability to employ Child Pays For Parent (CPFP) on an anchor output, given there is an output for 240 sats paying to a P2A address, represents a strategic response to the constraints posed by OP_CTV. The email outlines practical demonstrations of this technique using Signet for a CTV spend transaction with zero fees followed by a P2A CPFP transaction to facilitate fee adjustments. These examples showcase potential strategies for reducing the sensitivity of OP_CTV transactions to the fee market's fluctuations. However, the discussion also opens up queries about the general utility and possible drawbacks of this approach across various CTV script spends, inviting further investigation and dialogue within the developer community.