Difference between revisions of "Transaction Pools"
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==Transaction Pools in Bitcoin SV== | ==Transaction Pools in Bitcoin SV== | ||
| − | A bitcoin [[ | + | A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h]. |
| + | ==Secondary Transaction Pools and Genesis== | ||
| + | |||
| + | The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV will introduce taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners. | ||
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| + | '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee'' | ||
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| + | '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance. | ||
| + | |||
| + | A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/]. | ||
==See Also== | ==See Also== | ||
Revision as of 11:18, 17 February 2020
A transaction pool or mempool is a set of transactions that are unconfirmed but validated prior to inclusion in a block.
Transaction Pools in Bitcoin SV
A bitcoin node stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a block. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command getminingcandidate or the older getblocktemplate to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the transactions IDs match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [1].
Secondary Transaction Pools and Genesis
The Genesis upgrade to Bitcoin SV will introduce taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.
Primary Transaction Pool - transaction pool containing transactions that pay above the miner configured minimum tx fee
Secondary Transaction Pool - transaction pool for transactions that are below the miner configured minimum tx fee limit but above the network-wide minimum relay fee limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast block validation and optimize network performance.
A further discussion of configurable minimum fee policy can be found here [2].