Status: Draft
Type: Standards Track
Created: December 27, 2024
Abstract
This proposal mandates miners to include at least 0.1% of transactions in
their blocks from the oldest transactions by date, even if they have low
fees. This mechanism helps prevent mining centralization and censorship,
encouraging miners not to exclude certain transactions.
Motivation
The increasing centralization of Bitcoin mining and potential regulations
that may require miners to censor or exclude certain transactions pose a
threat to the Bitcoin network. Mandating the inclusion of a small
percentage of old transactions, even with low fees, ensures that no single
miner can censor block contents without sacrificing their own rewards.
Specification
Mandatory Inclusion of Old even if with Low-Fee Transactions
Each miner is required to include at least 0.1% of the total
transactions in a block from the oldest transactions in the mempool, even
if their fees are below the current market average.
These transactions must be added to blocks regardless of their
fees, prioritizing their age.
Block Validation
Bitcoin network nodes will validate blocks only if they contain the
required percentage of old transactions.
If a block fails to meet this criterion, it will be deemed invalid
and rejected by the network.
Incentives
Miners are incentivized to include these transactions to ensure
their blocks are valid and to avoid losing block rewards.
Advantages
Censorship Resistance: Miners cannot censor transactions without
forfeiting their rewards.
Greater Inclusivity: Old and low-fee transactions are assured of being
confirmed.
Decentralization Prevention: Reducing the potential for centralized
censorship keeps the Bitcoin network decentralized.
Considerations
Impact on the Mempool: The mempool may become more dynamic and
up-to-date with fewer old, stagnant transactions.
Resource Management: Miners will need to adjust their systems to
automatically identify and include relevant transactions.
Conclusion
Implementing this BIP will help maintain the integrity and decentralization
of the Bitcoin network, preventing censorship and ensuring all transactions
have a fair chance of confirmation.
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