From: Tier Nolan <tier.nolan@gmail•com>
Cc: Bitcoin Development <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Consensus-enforced transaction replacement via sequence numbers
Date: Thu, 28 May 2015 11:30:18 +0100 [thread overview]
Message-ID: <CAE-z3OUG5p_hAOFvaE10kTT7sa=2GrzvZpis5FzATSEcNwZpyw@mail.gmail.com> (raw)
In-Reply-To: <CAOG=w-vusO30sBZfsuP94wbkUUfHupmhQtScGsJ2463sO=EpzA@mail.gmail.com>
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Can you update it so that it only applies to transactions with version
number 3 and higher. Changing the meaning of a field is exactly what the
version numbers are for.
You could even decode version 3 transactions like that.
Version 3 transactions have a sequence number of 0xFFFFFFFF and the
sequence number field is re-purposed for relative lock time.
This means that legacy transactions that have already been signed but have
a locktime in the future will still be able to enter the blockchain
(without having to wait significantly longer than expected).
On Thu, May 28, 2015 at 10:56 AM, Mark Friedenbach <mark@friedenbach•org>
wrote:
> I have no problem with modifying the proposal to have the most significant
> bit signal use of the nSequence field as a relative lock-time. That leaves
> a full 31 bits for experimentation when relative lock-time is not in use. I
> have adjusted the code appropriately:
>
> https://github.com/maaku/bitcoin/tree/sequencenumbers
>
> On Wed, May 27, 2015 at 10:39 AM, Mike Hearn <mike@plan99•net> wrote:
>
>> Mike, this proposal was purposefully constructed to maintain as well as
>>> possible the semantics of Satoshi's original construction. Higher sequence
>>> numbers -- chronologically later transactions -- are able to hit the chain
>>> earlier, and therefore it can be reasonably argued will be selected by
>>> miners before the later transactions mature. Did I fail in some way to
>>> capture that original intent?
>>>
>>
>> Right, but the original protocol allowed for e.g. millions of revisions
>> of the transaction, hence for high frequency trading (that's actually how
>> Satoshi originally explained it to me - as a way to do HFT - back then the
>> channel concept didn't exist).
>>
>> As you point out, with a careful construction of channels you should only
>> need to bump the sequence number when the channel reverses direction. If
>> your app only needs to do that rarely, it's a fine approach.And your
>> proposal does sounds better than sequence numbers being useless like at the
>> moment. I'm just wondering if we can get back to the original somehow or at
>> least leave a path open to it, as it seems to be a superset of all other
>> proposals, features-wise.
>>
>
>
>
> ------------------------------------------------------------------------------
>
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>
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next prev parent reply other threads:[~2015-05-28 10:30 UTC|newest]
Thread overview: 22+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-05-27 1:50 Mark Friedenbach
2015-05-27 7:47 ` Peter Todd
2015-05-27 8:18 ` Gregory Maxwell
2015-05-27 10:00 ` Tier Nolan
2015-05-27 10:58 ` Peter Todd
2015-05-27 17:07 ` Jorge Timón
2015-05-27 8:04 ` Telephone Lemien
2015-05-27 10:11 ` Mike Hearn
2015-05-27 15:26 ` Mark Friedenbach
2015-05-27 17:39 ` Mike Hearn
2015-05-28 9:56 ` Mark Friedenbach
2015-05-28 10:23 ` Mike Hearn
2015-05-28 10:30 ` Tier Nolan [this message]
2015-05-28 12:04 ` Peter Todd
2015-05-28 13:35 ` Tier Nolan
2015-05-28 16:22 ` s7r
2015-05-28 17:21 ` Tier Nolan
2015-05-28 14:59 ` Mark Friedenbach
2015-05-28 15:18 ` Tier Nolan
2015-05-28 15:38 ` Mark Friedenbach
2015-05-28 15:57 ` Tier Nolan
2015-06-10 2:40 ` Rusty Russell
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