RSKIP-241 User-triggered peg-out tx fee-bumping

Hi! I would like the community to review this change to the bride contract to enable fee bumping of peg-out transactions. One of the reasons peg-out transactions are expensive is because the fee/kilobyte (which is not frequently updated) must be set high to accommodate the varying fees of Bitcoin.
with a fee bumping mechanism, the default fee/kilobyte could be set to a lower value, and users would be able to bump the peg-out transactions if they get stuck.

You can read the whole proposal here: RSKIPs/ at master · rsksmart/RSKIPs · GitHub

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Sounds like a good candidate for the next RSKIP community call … I’ve added this one to it!

At Defiant we’ve noticed that this issue is quite distressing for users, who have to pay for those fees. Even more, now that minima for peg-outs are being lowered, it certainly would be something nice to have.

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Note that with this RSKIP users still need to pay fees, but we expect they can be lowered because the risk that peg-outs get stuck in congestion times will be lower.

For the next network upgrade I’m preparing a proposal to batch peg-outs, which can algo potentially reduce peg-out fees.