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Alef-bitcoin bounty

The following algorithm is build to reduce the fee of multiple transaction using an aggregation technique

Dependencies

  • bitcoind

Strategy

The method used is by waiting for transaction to accumulate during a time period than use the aggregation algorithm to produce optimize large transactions

The algorithm goes as follows:

  • aggregate all shared inputs into single transactions
  • calculate maximal change for each transaction ( with no fees )
  • build transaction acumiltivly whatching transaction size
  • once optimal transaction size is reached continue
  • remove minimal fees from the built transaction
  • aggregate all shared outputs
  • create the actual bitcoin transaction
  • sign the transaction using all the needed private keys
  • repeat the build stage for all transactions left
  • wait 168 hours for the next time to run the script

Running

Fisrt you need to change the credentails to access the bitcoind server

bitcoind = ServiceProxy("http://lior:lior1@127.0.0.1:8332")

Then you need to change the mock function

txs = get_transaction_log()

To get transactions from the actual api

Than just run main.py

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