Mempool Transaction Superseding for Pending Ledger Cancellation
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Solution Overview
Problem
Current blockchain systems lack the ability to cancel or supersede pending transactions once they are added to the memory pool, leading to issues such as transactions being stuck for extended periods, double spending, or being invalidated due to low mining fees or user requests, resulting in inefficiencies and asset return to the original owner.
Innovation Solution
A method and system that allows users to supersede pending transactions by assigning a counter input or higher mining fee to a new transaction, enabling miner nodes to prioritize and validate the new transaction over existing ones with lower priority, ensuring timely and controlled transaction management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If a transaction is added to the memory pool with a low mining fee, then the transaction can be processed, but the transaction may be dropped after an extended period without being mined
Solution Approach 1:
The patent implements dynamic priority adjustment for transactions in the memory pool by introducing a replacement priority value that can be modified through replacement transactions. This allows transactions to change their mining priority over time, enabling users to boost stuck transactions or cancel them by submitting replacement transactions with adjusted priority values, thus resolving the issue of transactions being dropped due to low mining fees.
2Adaptability or versatility
If a user wants to cancel a transaction after it enters the memory pool, then the transaction should be cancellable, but current systems provide no mechanism for cancellation
Solution Approach 1:
The patent enables transaction cancellation by allowing users to submit a replacement transaction in advance that contains a replacement priority value designed to supersede the original transaction's priority. This preliminary action with a higher replacement priority ensures the original transaction will be replaced before mining occurs, providing a straightforward cancellation mechanism without complex system changes.
3Ease of operation
If transactions are sorted by mining fee only, then simple selection is possible, but transactions with low fees cannot be superseded by users
Solution Approach 1:
The patent extends the transaction selection criteria by introducing a replacement priority value parameter alongside the mining fee. Miner nodes now consider both the mining fee and the replacement priority value when selecting transactions, allowing users to control transaction mining order by adjusting the replacement priority parameter, thus providing user control while maintaining systematic selection.
Data Source
AI summary
The present disclosure provides a description of exemplary systems and methods for superseding pending transactions in a distributed ledger. The methods and systems may include a processor which may receive a first transaction associated with a digital asset in a memory pool of a distributed ledger network, the first transaction having a first priority. The processor may receive a second transaction associated with the digital asset in the memory pool of the distributed ledger network, the second transaction having a second priority. The processor may analyze the first priority of the first transaction and the second priority of the second transaction to determine a higher priority. In response to determining that the first priority of the first transaction is less than the second priority of the second transaction, the processor may validate the second transaction having the second priority.