A Bitcoin Core addition called Opt-In Replace-By-Fee (Opt-in RBF) allows transactions to be flagged as replaceable and replaced until the transaction gets confirmed in the next block, according to Nasdaq . It gives wallets the chance to add a signal to a transaction that gives permission for nodes to update the transaction.
Opt-in RBF was part of the original bitcoin software but was removed due to denial of service problems. Opt-In RBF solves this problem by adding a higher fee for transaction replacement. An Option For Wallets
Opt-in RBF consists of a change to the network relay code and memory pool that gives wallets the option to add a signal to transactions giving permission for full nodes to update the specific transaction. The feature marks a variation of RBF, also included in Bitcoin Core . Bitcoin journalist Aaron Van Wirdum provided a summary of the cases for and against RBF in Bitcoin Magazine.
Bitcoin Core developer Peter Todd blogged that opt-in RBF wallets are not currently ready to deploy detection software for opt-in RBF transactions. Todd noted wallets that don’t have such software deployed leave users at a heightened risk of getting cheated by double spenders, particularly for zero-confirmation transactions. The existence of bitcoin wallets not being ready for deployment could lead users to believe the community should wait to integrate opt-in RBF.
Todd said the concern is valid if consumer and merchant wallets are capable of warning users about the possibility of double-spend efforts prior to opt-in RBF integration. If wallets can’t currently properly detect and warn users, scammers will not need to use opt-in RBF since they will have no problem using the existing system. Security Levels Tested
Todd tested existing security levels against double spend attacks of some popular wallets and posted the following findings.
• The wallets […]
