this post was submitted on 09 Feb 2024
987 points (97.1% liked)

Technology

59398 readers
2914 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 2 points 9 months ago (2 children)

So what happens if a lot of people want to make transactions at the same time? Do they have to queue? Also, this sounds like anyone can cripple the system by scheduling a few thousand tiny transactions.

[–] [email protected] 4 points 9 months ago

Yes, there's a queue called mempool.
Clogging up the network is possible, but costs money (BTC), because transaction fees need to be added to the transactions and those fees need to be higher than those of the highest not yet processed transactions if "regular" users' transactions shall be delayed.
Miners prefer transactions with higher fees (to be precise: higher fees per occupied block space), because they earn them when creating the block successfully - together with the BTC that get issued when a block gets created.

[–] [email protected] 3 points 9 months ago

There's a transaction fee, the higher you pay the more priority you have (since miners get a cut).