A Brief History of the Mempool Chaining Limit *(An excerpt from an article originally* *published on the BU blog**)* https://www.bitcoinunlimited.info/blog/6a710fed-21d3-499a-97a5-e1a419bc0a6f Examining the history behind the mempool chaining limit is instructive. When Satoshi first released the bitcoin client, there was no such limit. In a certain sense, there was no mempool either [1] — miners simply collected valid transactions and confirmed them in the next block. And…
Exploring Long Chains of Unconfirmed Transactions and Their Resistance to Double-spend Fraud 1 Introduction This article explores long chains of unconfirmed bitcoin transactions and investigates their resistance to double-spend fraud. First we show how to hit the 25-chained transaction limit using the Electron Cash wallet, and then we discuss why the limit hurts certain use cases. Thanks to BU's recent work improving the child-pays-for-parent algorithm, hundreds of nodes on…
What Makes Satoshi's Incentive Work *In this article, I will argue that if miners ran the network as described in the Satoshi white paper, incentives would exist to do the research and development necessary to scale bitcoin to meet demand. I will also highlight a flaw in bitcoin's consensus rules—an oversight by Satoshi—that makes it profitable for miners to deviate from his intended protocol, thus partially short-circuiting this incentive. Lastly, I will suggest adding a…
The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead Despite the best of intentions, the developer service fee, AKA dev tax, will corrupt BCH. It represents a departure too far both from our core principles and from bitcoin as peer-to-peer electronic cash. In this article, I will first explain how the proposed service fee scheme would work, and then I will argue why it has no place in a decentralized digital cash system. WHAT IS…
@PeterRizun
Bitcoin Cash development
