Cryptionary

Replace By Fee

RBF

1. feature

A feature to allow transactions in the mempool to be replaced by another transaction with a higher mining fee.

1.1 RBF BTC

When the BTC mempool is full it can take a long time to confirm on-chain transactions. This is due to miners selecting which transactions to include in each block based on the transaction fee. In order to get a transaction confirmed quicker it's possible to re-send the transaction with a higher fee, giving that transaction higher mining priority.

1.2 RBF Abuse

If a transaction is spent with RBF enabled, the receiver should wait for at least a few confirmations to be confident it won't be reversed.

Otherwise the transaction can be sent, received, and then those same UTXO can be sent elsewhere with a higher fee, resulting in the first transaction being replaced and the receiver of the initial funds never receiving their money.

* All terms and definitions may update as the Cryptionary improves.

All terms

Maximum Supply Mempool Mining Mining Pool Minting Baton Mnemonic Mooning 🌕Multi Signature Node OP_RETURN Opcode Orphan Premining Privacy Coins Private Key Proof of Stake Proof of Work Public Key Pump and Dump Rekt Replace By Fee Satoshi Nakamoto Satoshis Schnorr Signatures SegWit SHA-256 Shill Shitcoin Simple Ledger Protocol Simplified Payment Verification Stop Limit Order Testnet Token Total Supply Transactions Per Second Transaction Transaction Fee Two Factor Authentication UTXO Volume