Canonical Transaction Ordering for Bitcoin
Bitcoin should and will scale. However, the scaling process can be made a lot easier if some hurdles are lifted. In particular, the path toward blocks as large as 1 terabyte requires every part - within Bitcoin - to be made as lean as possible. The canonical transaction ordering is a modest change, yet, I see this evolution as one of the most desirable changes in Bitcoin to clear the path to scalability.
Abstract: We propose to replace the topological transaction ordering rule of Bitcoin by the canonical transaction ordering rule, where transactions are expected to be sorted against their transaction identifiers within a block. This change eliminates an entire class of scalability challenges for Bitcoin in order to process very large blocks. This change also delivers two compelling use cases. First, it allows to produce compact proofs of transaction inclusion/exclusion, making chainless apps more capable. Second, it gives a newer degree of control to Bitcoin participants to localize their transaction within blocks.