From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 2CF6CA92 for ; Sun, 24 Dec 2017 02:57:42 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from APC01-PU1-obe.outbound.protection.outlook.com (mail-oln040092254032.outbound.protection.outlook.com [40.92.254.32]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 20AB3174 for ; Sun, 24 Dec 2017 02:57:41 +0000 (UTC) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=live.com; s=selector1; h=From:Date:Subject:Message-ID:Content-Type:MIME-Version; bh=cPib2K+ag4yS3QkJfvj5rovfpKwhoiGplik3WT+uKCo=; b=VmNnkr3Va6/0683Q8V87B3ZiGNutYz0wxRjoz3C1uBCemvAqZoRhtLPgl+/g92sZZRY55OAtOLv/8L3t/fVQxmRkoph7o1oqTamMRqXeIKHalyuYXttO6r18xrfw+wXwjZbLe3Ai8k9I06PeQ6+RmgSSGJuHTkcpmwixv0BuP212bBi+p17lr2SgMTfjk7YpXTqvSE8SNBnWc+2DiuS7Qv2zIpd3UDycJuPT4InO3CXNfHcIa4cLije/A/kMHsHIJWxJF5WO06FbtxP21nBtTAgyVIRj2rAYpo855/nTWdOQwnXCmGkwzfTJ1NpYBP5k/bVo2oZIxq8BMzuPTVkbxQ== Received: from PU1APC01FT013.eop-APC01.prod.protection.outlook.com (10.152.252.58) by PU1APC01HT141.eop-APC01.prod.protection.outlook.com (10.152.253.181) with Microsoft SMTP Server (version=TLS1_2, cipher=TLS_ECDHE_RSA_WITH_AES_256_CBC_SHA384_P384) id 15.20.302.6; Sun, 24 Dec 2017 02:57:38 +0000 Received: from PS2P216MB0179.KORP216.PROD.OUTLOOK.COM (10.152.252.58) by PU1APC01FT013.mail.protection.outlook.com (10.152.252.78) with Microsoft SMTP Server (version=TLS1_2, cipher=TLS_ECDHE_RSA_WITH_AES_128_CBC_SHA256_P256) id 15.20.302.6 via Frontend Transport; Sun, 24 Dec 2017 02:57:38 +0000 Received: from PS2P216MB0179.KORP216.PROD.OUTLOOK.COM ([10.171.225.19]) by PS2P216MB0179.KORP216.PROD.OUTLOOK.COM ([10.171.225.19]) with mapi id 15.20.0345.013; Sun, 24 Dec 2017 02:57:38 +0000 From: Damian Williamson To: "bitcoin-dev@lists.linuxfoundation.org" Thread-Topic: BIP 177: UTPFOTIB - Use Transaction Priority For Ordering Transactions In Blocks Thread-Index: AQHTfF9LLKeRKL7NBU+Lvna4nlU7zA== Date: Sun, 24 Dec 2017 02:57:38 +0000 Message-ID: Accept-Language: en-AU, en-US Content-Language: en-AU X-MS-Has-Attach: X-MS-TNEF-Correlator: x-incomingtopheadermarker: OriginalChecksum:BA018714711CB2C47F0D4ACBCC93872A8CB1F94058BB890C5E91635D1C68E000; UpperCasedChecksum:FEAF2791C325C893436F5798009B4CB5C16CEE45FD244FE1CB45568ED27598F2; SizeAsReceived:6953; Count:44 x-ms-exchange-messagesentrepresentingtype: 1 x-tmn: [GOYjHHhZsBtqCfdvHFvjwvAaOv/vXnUQ] x-ms-publictraffictype: Email x-microsoft-exchange-diagnostics: 1; PU1APC01HT141; 6:1dOi8u+cF9jJnS/Py6c5O2gy0UZfEAN6M0pSvmyzfHN9eYNOf6F0m41fy5mtsSOZ5oEcCMZ9IXvQdrNIY/LM5akCqV5O+oMRmrxQqMyCiEo6a34pk6aJp715SJBx57Fq8tWEbq8w1sDkIRYzdyAugj0haMN1DZ5bVUn8BOasjJxwT+iqy6FpkaQgpJYk7WD7oeNWqjmJ+xH3/GYoW5MJcDu6nmJbcCNnFM3qN3sQ73MRJqyShtO2M4ngqMeO3b0xxgvUud0ftq2Ko+Vc1PvsLoqxQX504ID4AfbBi0x1/UA3ef9si0ylf7VSWM0Ey3OoRg8HIrXWRmT+NUdbHADYMqmgkY14lH+gwlm6hgbDWSk=; 5:tccz9Gz/Os5HuCTEDbBPEB7qG5yM4wlWndCeHJ+OHvFeoPCw+zZ/k9wr2+9nmYeUgjmtFmo8hoNu6wfCvKbuVIjKpDCEk+WYA/Pf9UUHu4gOAS5F2Jgvu1XbteT5P+fTlnnqHQC3U1qnwT1LI/EO1NQv679ilcrRwyXrklqShVc=; 24:xWx5tnz9fT1fF7c8hw89dR781xZ57Akn6F2kXS4Wvylc7NTvpK7gmOWADXBla8q34ynyK+seDCOEwtIFT0RDDGy7+Pcfx3C3jWu9LyatLVQ=; 7:iSgQd9gd+lHvLv2zNV8+yAXwl7xIi2y7kBLezTRxu6esYo4h4SFaMPXPzvKy1MsrRT9x7eKK1nXpW52aLIqcyS1LTYDLAm1dOGXxIrE9ee6Oy61KgZDVJyTITxPYcnwxwyGY9+bzIEHD6hYdTs9F98pG0BrFoPKGd2L0n++tp1MB5+UeJtw7PPZ8rGyJeI96lEmTgU0dqyXSF6Nfcwyy+ew3oCZelxMtq5HVLBZ7DcupqYpqMMceuBFqVPB00qHd x-incomingheadercount: 44 x-eopattributedmessage: 0 x-microsoft-antispam: UriScan:; BCL:0; PCL:0; RULEID:(201702061074)(5061506573)(5061507331)(1603103135)(2017031320274)(2017031324274)(2017031323274)(2017031322404)(1601125374)(1603101448)(1701031045); SRVR:PU1APC01HT141; x-ms-traffictypediagnostic: PU1APC01HT141: x-ms-office365-filtering-correlation-id: f9083e11-1657-4efd-1024-08d54a7a17af x-exchange-antispam-report-cfa-test: BCL:0; PCL:0; RULEID:(444000031); SRVR:PU1APC01HT141; BCL:0; PCL:0; RULEID:(100000803101)(100110400095); SRVR:PU1APC01HT141; x-forefront-prvs: 05315CBE52 x-forefront-antispam-report: SFV:NSPM; SFS:(7070007)(98901004); DIR:OUT; SFP:1901; SCL:1; SRVR:PU1APC01HT141; H:PS2P216MB0179.KORP216.PROD.OUTLOOK.COM; FPR:; SPF:None; LANG:; spamdiagnosticoutput: 1:99 spamdiagnosticmetadata: NSPM Content-Type: multipart/alternative; boundary="_000_PS2P216MB0179FE1CAF04AB860A5F36719D000PS2P216MB0179KORP_" MIME-Version: 1.0 X-OriginatorOrg: outlook.com X-MS-Exchange-CrossTenant-Network-Message-Id: f9083e11-1657-4efd-1024-08d54a7a17af X-MS-Exchange-CrossTenant-originalarrivaltime: 24 Dec 2017 02:57:38.6295 (UTC) X-MS-Exchange-CrossTenant-fromentityheader: Internet X-MS-Exchange-CrossTenant-id: 84df9e7f-e9f6-40af-b435-aaaaaaaaaaaa X-MS-Exchange-Transport-CrossTenantHeadersStamped: PU1APC01HT141 X-Spam-Status: No, score=-1.9 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID, HTML_MESSAGE, RCVD_IN_DNSWL_NONE autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Sun, 24 Dec 2017 04:28:06 +0000 Subject: [bitcoin-dev] BIP 177: UTPFOTIB - Use Transaction Priority For Ordering Transactions In Blocks X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sun, 24 Dec 2017 02:57:42 -0000 --_000_PS2P216MB0179FE1CAF04AB860A5F36719D000PS2P216MB0179KORP_ Content-Type: text/plain; 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

--_000_PS2P216MB0179FE1CAF04AB860A5F36719D000PS2P216MB0179KORP_--