The mempool is at the center of everything in Bitcoin Cash. Currently, however, it suffers from a number of inefficiencies. We need to change how the mempool works in order to grow beyond the Bitcoin Core store-of-value/digital-gold model and lay the groundwork for billions of daily users.
The issues with the current mempool code stem from the fact that the code inherited from Bitcoin Core is optimized for a situation where blocks are small, and are always full. This results in a number of design decisions that are not suitable for Bitcoin Cash’s goal of high transaction throughput and a block size limit that is always above demand.
Bitcoin ABC's Mempool Overhaul project constitutes a significant change in how Bitcoin Cash works. Its implementation will result in Bitcoin Core backports becoming more challenging, if not unviable.
Because the mempool is central to many functions of the node software, improving the mempool code has several benefits including:
dramatically improve or completely eliminate the 50-unconfirmed chain transaction limit;
improve the fee structure and potential reintroduction of “free” transactions;
better scalability via parallelizations, block template construction, etc.;
many efficiency improvements;
simpler, more maintainable code.
Under no circumstances can we embark on the Mempool Overhaul project without a significant and ongoing budget. The Mempool Overhaul requires a workforce to maintain it on an ongoing basis. Undertaking this project without adequate, sustained funding would constitute an existential threat to Bitcoin Cash, since after it is completed, maintenance tasks will increase considerably compared to the status quo.
The Mempool Overhaul represents BCH stepping out of BTC's shadow and tossing aside the support lines. The Mempool Overhaul constitutes Bitcoin Cash taking leadership of the Bitcoin vision. It gives birth to many new possibilities and results in a distinctive codebase for BCH.
Join us in building censorship-resistant P2P electronic cash for billions of daily users and realizing the vision that is Bitcoin Cash!
Visit fund.bitcoinabc.org to find our business plan, budget, delivery timeline, funding options and feedback mechanisms.
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