An Onchain Implementation Of Mining Feerate Futures

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Interesting approach which could solve lot of problems.

@harding

That said, I think a contemporary post on this forum points to a weakness in this theoretical model: a miner with a large percentage of total network hashrate can forgo mining a transaction in a particular block and still have a realistic chance of being able to mine that transaction in one of their later blocks. In the case of this contract, the large miner may be willing to settle this contract in their favor even if it means being unable to mine some higher feerate transactions in the current block because the large miner knows that they’ll have a chance of mining some of the excluded transactions in the next block. A miner with a small percentage of total network hashrate doesn’t have that option: they’ll have to let the contract settle against them because their probability of getting a second chance at mining any transactions is tiny.

This can be avoided by using average fee rates over N blocks and settle discreet log contracts using multi oracles.