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charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable BIP 177: UTPFOTIB - Use Transaction Priority For Ordering Transactions In B= locks This BIP proposes to address the issue of transactional reliability in Bitc= oin, where valid transactions may be stuck in the mempool for extended peri= ods. There are two key issues to be resolved: 1. The current transaction bandwidth limit. 2. The current ad-hoc methods of including transactions in blocks result= ing in variable and confusing confirmation times for valid transactions, in= cluding transactions with a valid fee that may never confirm. It is important with any change to protect the value of fees as these will = eventually be the only payment that miners receive. Rather than an auction = model for limited bandwidth, the proposal results in a stable fee for prior= ity service auction model. I will post the full proposal up on to my blog in the coming days and, re-r= eview incorporating feedback that I have received on and off thread. It wou= ld not be true to suggest that all feedback received has been entirely posi= tive although, most of it has been constructive. The previous threads for this BIP are available here: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-December/subje= ct.html Regards, Damian Williamson --_000_PS2P216MB0179FE1CAF04AB860A5F36719D000PS2P216MB0179KORP_ Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
BIP 177: UTPFOTIB - Use Transaction Priority For Ordering Transaction= s In Blocks

This BIP proposes to address the = issue of transactional reliability in Bitcoin, where valid transactions may= be stuck in the mempool for extended periods.


There are two key issues to be re= solved:


  1. The current transaction bandwidth limit.
  2. The current ad-hoc met= hods of including transactions in blocks resulting in variable and confusin= g confirmation times for valid transactions, including transactions with a = valid fee that may never confirm.

It is important with any change t= o protect the value of fees as these will eventually be the only payment th= at miners receive. Rather than an auction model for limited bandwidth, the = proposal results in a stable fee for priority service auction model.


I will post the full proposal up = on to my blog in the coming days and, re-review incorporating feedback that= I have received on and off thread. It would not be true to suggest that al= l feedback received has been entirely positive although, most of it has been constructive.


The previous threads for this BIP= are available here:

https://lists.linuxfoun= dation.org/pipermail/bitcoin-dev/2017-December/subject.html


Regards,

Damian Williamson

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