The much-awaited Bitcoin Core major release, Bitcoin Core 24.0 upgrade finally goes live laying the groundwork for the Bitcoin memory pool, which acts as a holding area for unconfirmed transactions.
Bitcoin Core 24.0 upgrade alters how nodes download blocks when they sync with the network.
Bitcoin Core 24.0 nodes will initially not keep these block headers in order to thwart a specific kind of resource exhaustion attack, in contrast to earlier versions of Bitcoin Core that only downloaded block headers to ensure that the blocks they downloaded had enough proof-of-work.
Users now have the option to fully implement replace-by-fee (RBF) logic in Bitcoin Core 24.0. The BIP 125 update, released in 2016, enabled the RBF standard on the Bitcoin Network.
The Full-RBF present in the current release has been deemed controversial by the Bitcoin community since it could render zero-confirmation transactions obsolete.
Additionally, most users believe the new feature will promote double-spend attempts and force zero confirmation programs to turn off the feature for users.
The term zero-confirmation refers to the blockchain accepting a Bitcoin transaction before the miner-validated version. The change has a detrimental effect on these transactions because miners can now easily switch them out for ones with higher fees.
The entire Replace by Fee mechanism’s objective is to raise transaction fees. In addition to helping miners, this will provide a benchmark for the blockchain fee market.
Some members of the community believe that the RBF is being implemented by the core developers in an effort to make all transactions RBF by default.
This is because merchants and Bitcoin ATMs that rely on zero-confirmation transactions to satisfy customer needs in online commerce believe that the RBF will make their businesses less reliable.
It may seem appealing to scale Bitcoin through zero-confirmation transactions, but in reality, this cannot be done without jeopardizing security.
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