Cryptionary

Replace By Fee

RBF

1. feature

Replace By Fee (RBF) is a feature in Bitcoin that allows an unconfirmed transaction in the mempool to be replaced by another transaction that includes a higher mining fee. This feature is used to expedite transaction confirmation during periods of high network congestion.

1.1 RBF BTC

"When the Bitcoin mempool is congested, it can take a long time for transactions to be confirmed. Miners prioritize transactions with higher fees when selecting transactions to include in a block. To expedite a transaction, you can resend it with a higher fee using the RBF feature."

2. usage

RBF is particularly useful for transactions that need to be confirmed quickly. However, it's important to note that not all Bitcoin wallets support the RBF feature.

2.1

"If you're using a Bitcoin wallet that supports the RBF feature, you can use it to expedite your transaction during periods of high network congestion."

3. caution

While RBF can be useful, it can also be abused. If a transaction is sent with RBF enabled, the receiver should wait for at least a few confirmations to ensure the transaction won't be replaced.

3.1 RBF Abuse

"If a transaction is sent with RBF enabled, the receiver should wait for at least a few confirmations to ensure it won't be replaced. Otherwise, the sender could resend the same UTXOs elsewhere with a higher fee, causing the initial transaction to be replaced and the receiver to lose their funds."

4. origin

The RBF feature was introduced in Bitcoin Core 0.12.0 as a way to deal with transaction congestion in the mempool.

4.1

"The Replace By Fee (RBF) feature was introduced in Bitcoin Core 0.12.0 as a solution to deal with transaction congestion in the Bitcoin mempool."

* 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 Block 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 Simplified Payment Verification Stop Limit Order Testnet Token Total Supply Transactions Per Second Transaction Transaction Fee Two Factor Authentication UTXO Trading Volume Wallet