Scaling Bitcoin 2016 Milan - Day 2 - Morning

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Recommends Jestin · 2017-06 · Bitcoin Stack Exchange · on “Determine inputs/outputs of a transaction before sending”

If you are constructing your own transactions (rather than letting a wallet application do it for you), then you get to choose which inputs and outputs you use in the transaction. For that matter, you also get to choose the fee for the transaction, since any leftover from the sum of the inputs minus the sum of the outputs is the mining fee. Just remember that leaving too low of a fee will result in long delays of unconfirmed transactions. Based on your needs, you can choose to use different coin selection algorithms [LINK] . A coin selection algorithm's purpose is to select inputs from the pool of UTXOs [LINK] that you control. Selecting too many for a single transaction will result in a hig

Cites Pieter Wuille · 2016-11 · Bitcoin Stack Exchange · on “Will there be a point in the future where moving bitcoins to a new address will make them safer?”

Will there be a point in the future where moving bitcoins to a new address will make them safer? That is already the case. Using a 2-of-2 multisig address (with keys separated) is safer against theft than a normal P2PKH. Using a 1-of-2 multisig address (with keys separated) is safer against accidental loss than a normal P2PKH. If native P2WSH [LINK] segwit addresses get deployed in the future (with 256-bit script hashes, instead of 160-bit P2SH [LINK] script hashes), we'll also get a way that is more secure against exhaustive collision searches. I am noticing (e.g. the above article) that newer forms of encryption are being researched and developed for use in bitcoin. I believe the term you'

Cites Murch · 2017-01 · Bitcoin Stack Exchange · on “Why not multiply "six confirmations" and divide Time-Between-Blocks and Reward by the same factor?”

In consideration of replacing the 1 block with N blocks in the same time frame, N > 1 , I see the following points: Advantages Expected time until first confirmation is reduced Mining revenue is distributed smoother among pools Capacity of network is increased Smaller peak traffic than increasing blocksize by N Disadvantages A hardfork is required to adjust the block interval Increased chance of chain forks and higher stale rate due to block validation taking a larger portion of block interval Thin clients need to store a larger amount of headers Slightly bigger bandwidth usage than larger blocks Still, it may be that 10 minutes is too conservative and a smaller block interval would provide