From: Mark Friedenbach <mark@friedenbach•org>
To: Mike Hearn <mike@plan99•net>
Cc: Bitcoin Development <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Consensus-enforced transaction replacement via sequence numbers
Date: Thu, 28 May 2015 02:56:36 -0700 [thread overview]
Message-ID: <CAOG=w-vusO30sBZfsuP94wbkUUfHupmhQtScGsJ2463sO=EpzA@mail.gmail.com> (raw)
In-Reply-To: <CANEZrP0zKe7hK0KjiXN9M6CHnJxKZfW9myez3G+GWpr3fugBCg@mail.gmail.com>
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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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next prev parent reply other threads:[~2015-05-28 9:57 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 [this message]
2015-05-28 10:23 ` Mike Hearn
2015-05-28 10:30 ` Tier Nolan
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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