Package aware Fee estimator post cluster mempool

Package aware Fee estimator post cluster mempool

Posted on: December 23, 2023 14:25 UTC

The recent discussion among developers has centered around optimizing the processing of transactions within a block.

A notable suggestion put forth involves an alternative approach to handling transactions by individually examining each transaction in the mempool to determine its chunk feerate. This method deviates from traditional practices like clustering, linearizing, or chunking blocks, which are typically used to organize and prioritize transactions for confirmation.

This new methodology leverages the idea that by assessing each transaction's chunk feerate independently, one could potentially streamline the transaction validation process. The underlying principle is that each transaction carries with it a fee rate – a metric that can be utilized to measure the cost per unit size of that transaction. By comparing these individual feerates, miners or validators could prioritize transactions more efficiently, thus optimizing block space use and possibly improving the overall throughput of the system.

The concept assumes that there is already sufficient information available within the mempool, which is a collection of all unconfirmed transactions waiting to be included in a block. Since the mempool retains these transactions until they are confirmed, it serves as a comprehensive database from which specific transaction details, such as feerates, can be extracted and analyzed.

If implemented, this practice could have implications for the scalability and efficiency of transaction processing, particularly in systems where block space is at a premium and transaction throughput is a critical performance metric. The discussion reflects an ongoing effort to refine blockchain technology and improve its capability to handle growing transaction volumes without compromising on speed or increasing costs for users.