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pleb priority

locally apply out of band fee deltas to your bitcoin core node (using acceleration data from the mempool.space API)

Inband vs Out-of-band Bids

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.

What are Out-of-band bids?

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)

Current Problems

  • 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

Proposed Solution

  1. Fetch API accelerations from mempool.space (no API key required)
  2. Store accelerations in a local .json file
  3. Prioritize transactions in local Bitcoin Core

Benefits to node runners

  • 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)

Notes

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)'

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locally apply mempool accelerations

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