diff options
author | Ava Chow <github@achow101.com> | 2024-02-09 16:30:36 -0500 |
---|---|---|
committer | Ava Chow <github@achow101.com> | 2024-02-09 16:38:13 -0500 |
commit | 1d334d830f9423caef0a230dc62e4458a56d3bbe (patch) | |
tree | 3b846ddb91bd4d272b6efac1e73c7e906bd22cc9 /doc/release-notes/release-notes-0.8.3.md | |
parent | b2b2b1e9e415c3b5f74d517eaebfc2073cef5175 (diff) | |
parent | 13161ecf032b7a850686e5942c12222c8f3d0d52 (diff) |
Merge bitcoin/bitcoin#27877: wallet: Add CoinGrinder coin selection algorithm
13161ecf032b7a850686e5942c12222c8f3d0d52 opt: Skip over barren combinations of tiny UTXOs (Murch)
b7672c7cdd87acb105639f475744094b53cc9891 opt: Skip checking max_weight separately (Murch)
1edd2baa37a69ff69c2eaeceaad1028f1968cbab opt: Cut if last addition was minimal weight (Murch)
5248e2a60d243b3d5c77ecd9e4c335daca399a48 opt: Skip heavier UTXOs with same effective value (Murch)
9124c73742287b06dfe6e8a94be56ace25f07b2c opt: Tiebreak UTXOs by weight for CoinGrinder (Murch)
451be19dc10381122f705bbb2127b083f1d598c6 opt: Skip evaluation of equivalent input sets (Murch)
407b1e3432b77511900b77be84d5d7450352f462 opt: Track remaining effective_value in lookahead (Murch)
5f84f3cc043c5fb15072f5072fee752eaa01a2ec opt: Skip branches with worse weight (Murch)
d68bc74fb2e3ae4ae775ab544fe5b4ab46025abb fuzz: Test optimality of CoinGrinder (Murch)
67df6c629a2e9878b06c1903e90b67087eaa3688 fuzz: Add CoinGrinder fuzz target (Murch)
1502231229dbc32c94e80a2fc2959275c5d246ef coinselection: Track whether CG completed (Murch)
7488acc64685ae16e20b78e7ad018137f27fe404 test: Add coin_grinder_tests (Murch)
6cc9a46cd0f4ed80d4523bbef1508142e0c80d27 coinselection: Add CoinGrinder algorithm (Murch)
89d09566431f57034d9a7df32547ceb13d79c62c opt: Tie-break UTXO sort by waste for BnB (Murch)
aaee65823c6e620bef5cc96d8026567e64d822fe doc: Document max_weight on BnB (Murch)
Pull request description:
***Please refer to the [topic on Delving Bitcoin](https://delvingbitcoin.org/t/gutterguard-and-coingrinder-simulation-results/279) discussing Gutter Guard/Coingrinder simulation results.***
Adds a coin selection algorithm that minimizes the weight of the input set while creating change.
Motivations
---
- At high feerates, using unnecessary inputs can significantly increase the fees
- Users are upset when fees are relatively large compared to the amount sent
- Some users struggle to maintain a sufficient count of UTXOs in their wallet
Approach
---
So far, Bitcoin Core has used a balanced approach to coin selection, where it will generate multiple input set candidates using various coin selection algorithms and pick the least wasteful among their results, but not explicitly minimize the input set weight. Under some circumstances, we _do_ want to minimize the weight of the input set. Sometimes changeless solutions require many or heavy inputs, and there is not always a changeless solution for Branch and Bound to find in the first place. This can cause expensive transactions unnecessarily. Given a wallet with sufficient funds, `CoinGrinder` will pick the minimal-waste input set for a transaction with a change output. The current implementation only runs `CoinGrinder` at feerates over 3×long-term-feerate-estimate (by default 30 ṩ/vB), which may be a decent compromise between our goal to reduce costs for the users, but still permit transactions at lower feerates to naturally reduce the wallet’s UTXO pool to curb bloat.
Trade-offs
---
Simulations for my thesis on coin selection ([see Section 6.3.2.1 [PDF]](https://murch.one/erhardt2016coinselection.pdf)) suggest that minimizing the input set for all transactions tends to grind a wallet’s UTXO pool to dust (pun intended): an approach selecting inputs per coin-age-priority (in effect similar to “largest first selection”) on average produced a UTXO pool with 15× the UTXO count as Bitcoin Core’s Knapsack-based Coin Selection then (in 2016). Therefore, I do not recommend running `CoinGrinder` under all circumstances, but only at extreme feerates or when we have another good reason to minimize the input set for other reasons. In the long-term, we should introduce additional metrics to score different input set candidates, e.g. on basis of their privacy and wallet health impact, to pick from all our coin selection results, but until then, we may want to limit use of `CoinGrinder` in other ways.
ACKs for top commit:
achow101:
ACK 13161ecf032b7a850686e5942c12222c8f3d0d52
sr-gi:
ACK [13161ec](https://github.com/bitcoin/bitcoin/pull/27877/commits/13161ecf032b7a850686e5942c12222c8f3d0d52)
sipa:
ACK 13161ecf032b7a850686e5942c12222c8f3d0d52
Tree-SHA512: 895b08b2ebfd0b71127949b7dba27146a6d10700bf8590402b14f261e7b937f4e2e1b24ca46de440c35f19349043ed2eba4159dc2aa3edae57721384186dae40
Diffstat (limited to 'doc/release-notes/release-notes-0.8.3.md')
0 files changed, 0 insertions, 0 deletions