The article delves into the implications of transaction prioritization norms in blockchain systems, particularly focusing on Bitcoin. It reveals that users often believe in full transparency regarding transaction fees, but this assumption is challenged. Different miners charging varying fees can create fairness issues. The piece advocates for a transparent community discourse on establishing and enforcing transaction prioritization norms to align user and miner expectations. It also underscores the complexities of governance and ordering in decentralized systems, emphasizing the need for collaborative solutions moving forward.
Our findings have significant implications for both bitcoin users and miners. Bitcoin users typically assume complete transparency regarding fees but our results challenge this assumption.
The practice of transactions having different confirmation fees for different miners raises notable fairness concerns, calling for a community-wide debate on transaction prioritization norms.
We emphasize the need for enforcing transparency in defining transaction prioritization norms so that users and miners collectively understand and adhere to these standards.
These findings suggest that while blockchain technology is intended to facilitate decentralized governance, inherent issues in transaction prioritization transparency challenge this goal.
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