The article examines the dynamics of private mempools and their consequences on the Bitcoin network. It discusses how the mempool serves as a facilitator of aligned incentives between users, who are willing to pay transaction fees, and miners, who rely on those fees for revenue. The interplay between users wanting to transact and miners aiming to earn highlights the system's security mechanisms. The introduction of friction in transactions does not alter these basic incentives, as valid transactions will still motivate miners and users alike to engage with one another.
At the heart of the mempool's purpose is the alignment of incentives between users wanting transactions and miners seeking revenue from transaction fees.
Bitcoin's security relies on the relations between customers and providers—users and miners working together to meet their respective desires.
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