How Does a “First-Seen Safe” RBF Proposal Attempt to Address the 0-Conf Security Issue?
A "first-seen safe" RBF (FSS-RBF) proposal aimed to allow fee bumping only if the replacement transaction maintained the exact same outputs as the original. This meant the sender could increase the fee but could not change the recipient or the amount, preventing a malicious double-spend to a different address.
The intent was to allow users to speed up stuck transactions while preserving a degree of safety for merchants accepting 0-conf payments. However, FSS-RBF was not widely adopted, as it was complex and offered a false sense of security.
Glossar
RBF
Policy ⎊ RBF (Replace-by-Fee) is a protocol feature that allows a user to replace an unconfirmed transaction in the mempool with a new transaction that includes a higher transaction fee.
False Sense of Security
Calibration ⎊ A false sense of security within cryptocurrency, options, and derivatives frequently arises from backtesting models on limited historical data, leading to an overestimation of predictive power and risk assessment.
Proposal
Governance ⎊ Within decentralized autonomous organizations governing crypto derivatives platforms, a Proposal serves as the formal on-chain or off-chain submission for a change in protocol parameters or resource allocation.