<ul><li>The article delves into the dynamics of private mempools and their implications on the Bitcoin network's health and mining incentives.</li><li>The mempool aligns incentives between miners and users, with users willing to pay fees and miners seeking revenue sources.</li><li>Bitcoin's security is driven by incentive alignment between customers and providers, ensuring network reliability.</li><li>Introduced friction does not alter the underlying incentive structures for transactions and mining.</li><li>Miners may resort to out-of-band mechanisms like transaction accelerators in hostile environments.</li><li>Third-party APIs like Mempool.space offer miners alternative transaction submission methods.</li><li>Use of private APIs can distort fee estimates, delay transaction visibility, and centralize mining power.</li><li>Creating parallel mempools introduces complexity for users and miners, impacting fee estimation accuracy.</li><li>Attempting to interfere with incentives outside of Bitcoin's consensus rules can lead to centralization and negative outcomes.</li><li>The consensus rules serve as the framework for incentivizing behavior in the Bitcoin network.</li></ul>

The Bitcoin Mempool: Private Mempools

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