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....
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The long-lasting block size dispute has catapulted into the center of attention again. One of the most talked-about developments is Segregated Witness, of which a public testnet iteration was launched last week. The innovation as recently proposed by Blockstream co-founder and Bitcoin Core developer Dr. Pieter Wuille is a centerpiece of a scalability “roadmap” set out by Bitcoin Core. To find out where the broader development community stands on Segregated Witness, Bitcoin Magazine reached out to library and wallet developers; those who will need to do the heavy lifting in order to utilize....
Jonas Schnelli joins other Bitcoin developers who are sponsored by high-caliber Bitcoin companies.
Bitcoin Core contributor Jonas Schnelli was recently featured in a panel discussion about improvements to Bitcoin at the 2016 MIT Bitcoin Expo. During the Q&A portion of the panel, an audience member asked the participants about the previous presentation by the World Bitcoin Network’s James D’Angelo in which he articulated the idea of replacing miners with elected officials. In general, the panel, which also featured Blockstream core tech engineer Mark Friedenbach, Blockstream mathematician Andrew Poelstra and Lightning Network co-creator Joseph Poon, had a negative reaction to the concept....
The Coinbase Crypto Community Fund was awarded to João Barbosa and another pseudonymous developer. Digital currency exchange Coinbase has awarded its first-ever Bitcoin Core developer grants, and a familiar name is among the recipients.João Barbosa and 0xB10C, the alias of a pseudonymous developer, were selected winners earlier this week. Although the funding amounts weren’t revealed, Coinbase said both developers will “be funded to work on Bitcoin for all of 2021” in amounts payable via BTC or USD. As Coinbase states:Both candidates demonstrated a consistent history of contributing to....
A new addition to Bitcoin Core called Opt-In Replace-by-Fee allows transactions to be flagged as replaceable, and actually replaced, until the transaction gets confirmed in the next block. Opt-In RBF is a change to the memory pool and network relay code and gives wallets the option to add a signal to transactions that gives permission for full nodes to update the particular transaction. Bitcoin creator Satoshi Nakamoto introduced transaction replacement in his initial release of the Bitcoin Software, but removed it due to denial of service problems, which opt-in RBF solves by adding a....