Bitcoin Core Developer Jonas Schnelli Explains Controversial Transaction Replace-by-Fee Feature

Bitcoin Core Developer Jonas Schnelli Explains Controversial Transaction Replace-by-Fee Feature

Although the block size debate has been the main point of conflict within the Bitcoin community over the past year, the reality is that this conversation is more about the larger topic of scalability. Different Bitcoin users would like to see the network scale via specific methods, and the two main parties in this debate are now Bitcoin Core and Bitcoin Classic.

Along with the block size limit, the Lightning Network, and Segregated Witness, another Bitcoin feature that has been covered in controversy is Replace-by-Fee (RBF). Bitcoin Core Contributor Jonas Schnelli recently discussed this new feature, which has been implemented in Bitcoin Core 0.12, during a presentation at a Bitcoin Meetup Switzerland.

Satoshi Originally Implemented Full RBF

Schnelli started his talk by pointing out that Bitcoin creator Satoshi Nakamoto originally implemented RBF.

Although transaction replacement was disabled by Nakamoto in 2010, the commit disabling the feature came with the comment that it was only being turned off “for now.” The comment next to the code related to transaction replacement in Nakamoto’s original code reads, “Allow replacing with a newer version of the same transaction.”

Schnelli described how transaction replacement once worked

Read more ... source: TheBitcoinNews

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