delvingbitcoin
An overview of the cluster mempool proposal
Posted on: January 12, 2024 15:31 UTC
The concept of applying incentive-compatibility to transaction fee rates in blockchain technology presents a significant area for future research.
It is suggested that fee rates at the top of the mempool should carry more weight than those at the bottom due to their increased importance for miners. This could lead to the development of a new model that implements discounting mechanisms, reflecting the varying significance throughout the mempool. Such an approach acknowledges the realities faced by transactions further from the top blocks, which may be subject to trimming, replaced by higher fee transactions through Replace-By-Fee (RBF), or even time out.
Initial analysis has indicated that this method may not be effective in preventing anti-pin strategies, where a transaction is evicted from a cluster to make room for another one. The discussion also touches on the potential adaptation of "mempoolfullrbf" style RBFs. This could entail allowing clusters to temporarily exceed their limits when receiving a new chunk of transactions that surpasses current capacity, followed by a re-linearization of clusters and subsequently removing the excess. However, this approach might introduce complexities related to pinning and anti-Denial-of-Service measures.
Overall, while these ideas are in the nascent stages and may appear somewhat abstract, they offer a glimpse into possible advancements in how blockchain networks manage transaction fees and mempool dynamics. The strategies discussed are currently theoretical and would require thorough exploration and whiteboarding before any practical implementation could be considered.