[bitcoin-dev] BIP 177: UTPFOTIB - Use Transaction Priority For Ordering Transactions In Blocks

Luke Dashjr luke at dashjr.org
Sun Dec 24 07:21:24 UTC 2017


BIP 177 is NOT assigned. Do not self-assign BIP numbers!

Please read BIP 2:

    https://github.com/bitcoin/bips/blob/master/bip-0002.mediawiki

Luke


On Sunday 24 December 2017 2:57:38 AM Damian Williamson via bitcoin-dev wrote:
> BIP 177: UTPFOTIB - Use Transaction Priority For Ordering Transactions 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 resolved:
> 
> 
>   1.  The current transaction bandwidth limit.
>   2.  The current ad-hoc methods of including transactions in blocks
> resulting in variable and confusing confirmation times for valid
> transactions, including 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
> 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 all feedback received has been
> entirely positive 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


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