delvingbitcoin

V3 and some possible futures

V3 and some possible futures

Original Postby Greg Sanders

Posted on: July 29, 2024 11:05 UTC

The discussion highlights a nuanced aspect of version 3 (v3) user experience, emphasizing that users may not have the flexibility to choose confirmation speeds and might be confined to using a fast-confirmation rate even for transactions where only eventual confirmation is sought.

This constraint particularly affects scenarios requiring wallets to be frequently online to facilitate necessary re-signing or rebroadcasting actions. While this setup seems to align with the operational dynamics of Lightning Network (LN) type applications, it poses significant challenges for "colder" wallet setups that are not regularly online.

Moreover, the conversation raises skepticism about the overall attractiveness of adopting v3 under these conditions when compared to potential alternatives like TRUC or the proposed "v4." This skepticism stems from concerns over user autonomy and the practicality of maintaining continuous online presence for wallets, which may not be feasible or desirable for all users. The comparison suggests that while v3 introduces certain functionalities, its limitations and the implications for different types of wallet usage merit careful consideration against other available or forthcoming solutions.