Oct 29 - Oct 29, 2025
His approach seeks to circumvent the complications associated with watchtowers and channel-based routing by leveraging the existing mining infrastructure. Widmann introduces the idea of Anticipation Transactions (ATX), which are pre-signed transactions not immediately settled on the blockchain but instead forwarded within a specially designated pool managed by miners, termed the anticipation pool.
The core mechanism of ATX allows these transactions to be considered "confirmed" once a sufficient percentage of mining hash power has validated them, thus eliminating the need for immediate blockchain settlement. This process is designed to prevent double-spending through a series of validations and timestamping by miners, with a first-seen preference. An essential feature of ATX is a timelock, which permits only the recipient to publish the transaction to the mempool, forward it, or divide it among several parties within a stipulated time frame, typically 30 days. Following this period, miners gain the ability to publish the transaction, thereby collecting the associated fees.
Widmann's proposal includes an innovative fee structure to incentivize miner participation and ensure the economic viability of managing the anticipation pool. Fees amplify with each forwarding action according to a specified formula, which necessitates optimization to balance scalability against miner incentives. The system inherently discourages indefinite forwarding due to escalating costs, compelling users to settle transactions on-chain or face progressively higher fees. Moreover, the anticipation pool is self-regulating, driven by economic forces rather than complex protocols, further simplifying its operation.
Despite the promising aspects of this concept, Widmann seeks feedback on several fronts, including the technical feasibility, the specifics of the signing and validation mechanism for forwards/splits, the potential necessity of protocol changes (soft/hard fork), along with any unaddressed security vulnerabilities. Additionally, he invites analysis on the economic incentives and suggestions for optimal parameter settings, such as validation thresholds, timelock duration, and fee structures.
This proposal represents a thoughtful attempt to enhance Bitcoin's scalability by reimagining transaction processing and settlement without relying on external systems like the Lightning Network. It underscores a community-driven approach to problem-solving within the cryptocurrency space, encouraging collective insight and development efforts.
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Oct 29 - Oct 29, 2025
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