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Updating info on high-priority-transactions

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Jonathan Cross 2016-12-03 22:05:03 +01:00
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_includes/devdoc/guide_transactions.md
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@ -645,23 +645,17 @@ enable locktime.
{% autocrossref %}
Transactions typically pay transaction fees based on the total byte size
of the signed transaction. The transaction fee is given to the
Transactions pay fees based on the total byte size of the signed transaction. Fees per byte are calculated based on current demand for space in mined blocks with fees rising as demand increases. The transaction fee is given to the
Bitcoin miner, as explained in the [block chain section][section block chain], and so it is
ultimately up to each miner to choose the minimum transaction fee they
will accept.
<!-- TODO: check: 50 KB or 50 KiB? Not that transactors care... -->
There is also a concept of so-called "[high-priority transactions][/en/glossary/high-priority-transaction]{:#term-high-priority-transactions}{:.term}" which spend satoshis that have not moved for a long time.
By default, miners reserve 50 KB of each block for [high-priority
transactions][/en/glossary/high-priority-transaction]{:#term-high-priority-transactions}{:.term} which spend satoshis that haven't been spent for a long
time. The remaining space in each block is typically allocated to transactions
based on their fee per byte, with higher-paying transactions being added
in sequence until all of the available space is filled.
In the past, these "priority" transaction were often exempt from the normal fee requirements. Before Bitcoin Core 0.12, 50 KB of each block would be reserved for these high-priority transactions, however this is now set to 0 KB by default. After the priority area, all transactions are prioritized based on their fee per byte, with higher-paying transactions being added in sequence until all of the available space is filled. <!-- Consider adding links to blockmaxsize and blockmaxweight options once available in the glossary. -->
As of Bitcoin Core 0.9, transactions which do not count as high-priority transactions
need to pay a [minimum fee][/en/glossary/minimum-relay-fee]{:#term-minimum-fee}{:.term} (currently 1,000 satoshis) to be
broadcast across the network. Any transaction paying only the minimum fee
As of Bitcoin Core 0.9, a [minimum fee][/en/glossary/minimum-relay-fee]{:#term-minimum-fee}{:.term} (currently 1,000 satoshis) has been required to
broadcast a transaction across the network. Any transaction paying only the minimum fee
should be prepared to wait a long time before there's enough spare space
in a block to include it. Please see the [verifying payment section][section verifying payment]
for why this could be important.
@ -786,4 +780,3 @@ always work is to ensure the reissued payment spends all of the same
outputs that the lost transaction used as inputs.
{% endautocrossref %}