Death to the Mempool, Long Live The Mempool - Bitcoin Explained
Bitcoin, Explained 50: Death to the Mempool, Long Live the Mempool
In this episode of Bitcoin, Explained, hosts Aaron van Wirdum and Sjors Provoost discuss a recent thread on the Bitcoin development mailing list, titled “Death to the Mempool, Long Live the Mempool”.
In the thread, Blockstream engineer Lisa “niftynei” Neigut proposes to get rid of the memory pool (mempool): the collection of unconfirmed transactions that Bitcoin nodes use to share transactions over the network, and that Bitcoin miners use to create new blocks from. She argues that the Bitcoin system could be drastically simplified if users instead just send their transactions directly to miners (or mining pools).
In the episode, Aaron and Sjors explain how this would work, and why this is not as simple as it may sound. Based on the responses in the thread, they go over the reasons why getting rid of the mempool is in fact not a very good solution for a system like Bitcoin. Specifically, they discuss the implications on mining privacy and decentralization, while also exploring some other tradeoffs that would need to be made in order to make the Bitcoin system work without a mempool.
Finally, Sjors considers an idea that Aaron doesn’t understand.
Bitcoin Magazine is back in print!
Get Bitcoin Magazine shipped directly to your front door!
Get 21% off with promo code: YTMAG
https://store.bitcoinmagazine.com/products/bitcoin-magazine-annual-subscription
"The Deep Dive" delivers the latest Bitcoin on-chain market intelligence directly to your inbox!
Check it out for free here!
https://deepdivebtc.substack.com/welcome
Bitcoin 2022 will be the biggest Bitcoin conference ever! Miami, FL from April 6–9, 2022
Get 15% off tickets with promo code: YTMAG
https://b.tc/conference/
-
1:12:13
Bitcoin Magazine
1 month agoJerome PooWell in the History Books, ep 502 The Breakup
4.36K7 -
13:58
EricKrownCrypto
2 years agoBitcoin Crash Explained + Long Term Bottom Targets.
16 -
2:24
Bitcoin Magazine
2 years agoBitcoin vs Crypto Explained in 2 Minutes!
42 -
44:52
Bitcoin Magazine
2 years agoFederated Ecash - Bitcoin Explained
110 -
1:15:38
Steve-O's Wild Ride! Podcast
2 days ago $0.22 earnedG Eazy Opens Up About Falling Off - Wild Ride #217
1.68K1 -
18:44
We Profit with Stock Curry
5 days agoUltimate Advice for Teens & Young Adults
6545 -
LIVE
Lofi Girl
1 year agoSynthwave Radio 🌌 - beats to chill/game to
340 watching -
21:00
Mr. Build It
23 days ago3 Ways to Build Garden Beds
3.55K9 -
1:42:14
Jewels Jones Live
1 day agoDETRANS w/ special guest Mary Margaret Olohan | A Political Rendezvous - Ep. 78
9.43K16 -
1:36:46
Roseanne Barr
23 hours ago $73.82 earnedFor Love of Country with Tulsi Gabbard | The Roseanne Barr Podcast #50
126K308