locally apply out of band fee deltas to your bitcoin core node (using acceleration data from the mempool.space API)
Inband block bids are well accommodated by Bitcoin Core, provided your policy rules ensure incentive compatible. Out-of-band bids are outside the remit of Bitcoin Core for good reason.
Out-of-band bids are incentives made to miners/pools to prioritise transactions, beyond the inband fee. They can be made:
- to individual miners/pools who offer acceleration services
- via acceleration market places (e.g. Mempool Accelerator, which places acceleration requests to 80% of the network hashrate)
- Mining Centralisation: Mempool Accelerator doesn't currently have a way for smaller pleb miners to access the additional out-of-band revenue.
- Inaccurate Fee Projection: Nodes which are unaware of out-of-band accelerations may underestimate projected fees
- Fetch API accelerations from mempool.space (no API key required)
- Store accelerations in a local .json file
- Prioritize transactions in local Bitcoin Core
- Non Mining Nodes: Have a local mempool that is mempool accelerator aware
- Mining Nodes: Theoretically in the future mempool.space could opt to pay pleb miners for accelerated transactions (e.g. to the blocks coinbase address)
eventType
- legacy: old accelerations which are pending
- added: fresh in off the websocket
- removed: no longer being accelerated
Command to get position of txid in local block template
txid="YOUR_TRANSACTION_ID_HERE"
bitcoin-cli getblocktemplate '{"rules": ["segwit"]}' | jq --arg txid "$txid" '.transactions | map(.txid == $txid) | index(true)'