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Merge bitcoin#10707: Better API for estimatesmartfee RPC
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06bcdb8 Convert named argument from nblocks to conf_target (Alex Morcos)
439c4e8 Improve api to estimatesmartfee (Alex Morcos)

Pull request description:

  Through 0.14 branch, the estimatesmartfee API was tagged "WARNING: This interface is unstable and may disappear or change!" and this warning is removed for 0.15, so any wanted API updates should happen now.

  The changes here are to make the additional parameter for conservative estimates a more general estimate_mode string , to omit the feerate and include an error string instead of returning -1 on error, and to do better parameter checking initially.

  ~It is only the last 2 commits, but it's built on bitcoin#10706 and bitcoin#10543~.

  See bitcoin#10707 (comment) for renaming of nblocks argument to conf_target.  Will need to be included before string freeze.

  PR description edited for clarity

Tree-SHA512: 6d8ebee8bb410e2950ffd59663eebfed8d1611d995dc935bb91e430d9da7e2f306796f45631458376027d26341c660f09e825e61748103d2f2736ec6dc3df3ae
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@sipa @PastaPastaPasta
sipa authored and PastaPastaPasta committed Sep 18, 2019
1 parent 1acde17 commit d04633d
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Showing 3 changed files with 51 additions and 41 deletions.
19 changes: 8 additions & 11 deletions src/policy/fees.cpp
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Original file line number Diff line number Diff line change
Expand Up @@ -837,20 +837,20 @@ CFeeRate CBlockPolicyEstimator::estimateSmartFee(int confTarget, FeeCalculation
EstimationResult tempResult;

// Return failure if trying to analyze a target we're not tracking
if (confTarget <= 0 || (unsigned int)confTarget > longStats->GetMaxConfirms())
return CFeeRate(0);
if (confTarget <= 0 || (unsigned int)confTarget > longStats->GetMaxConfirms()) {
return CFeeRate(0); // error conditon
}

// It's not possible to get reasonable estimates for confTarget of 1
if (confTarget == 1)
confTarget = 2;
if (confTarget == 1) confTarget = 2;

unsigned int maxUsableEstimate = MaxUsableEstimate();
if (maxUsableEstimate <= 1)
return CFeeRate(0);

if ((unsigned int)confTarget > maxUsableEstimate) {
confTarget = maxUsableEstimate;
}
if (feeCalc) feeCalc->returnedTarget = confTarget;

if (confTarget <= 1) return CFeeRate(0); // error conditon

assert(confTarget > 0); //estimateCombinedFee and estimateConservativeFee take unsigned ints
/** true is passed to estimateCombined fee for target/2 and target so
Expand Down Expand Up @@ -897,10 +897,7 @@ CFeeRate CBlockPolicyEstimator::estimateSmartFee(int confTarget, FeeCalculation
}
}

if (feeCalc) feeCalc->returnedTarget = confTarget;

if (median < 0)
return CFeeRate(0);
if (median < 0) return CFeeRate(0); // error conditon

return CFeeRate(median);
}
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1 change: 0 additions & 1 deletion src/rpc/client.cpp
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Original file line number Diff line number Diff line change
Expand Up @@ -142,7 +142,6 @@ static const CRPCConvertParam vRPCConvertParams[] =
{ "getrawmempool", 0, "verbose" },
{ "estimatefee", 0, "nblocks" },
{ "estimatesmartfee", 0, "nblocks" },
{ "estimatesmartfee", 1, "conservative" },
{ "estimaterawfee", 0, "nblocks" },
{ "estimaterawfee", 1, "threshold" },
{ "prioritisetransaction", 1, "fee_delta" },
Expand Down
72 changes: 43 additions & 29 deletions src/rpc/mining.cpp
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Original file line number Diff line number Diff line change
Expand Up @@ -833,41 +833,58 @@ UniValue estimatesmartfee(const JSONRPCRequest& request)
{
if (request.fHelp || request.params.size() < 1 || request.params.size() > 2)
throw std::runtime_error(
"estimatesmartfee nblocks (conservative)\n"
"estimatesmartfee conf_target (\"estimate_mode\")\n"
"\nEstimates the approximate fee per kilobyte needed for a transaction to begin\n"
"confirmation within nblocks blocks if possible and return the number of blocks\n"
"confirmation within conf_target blocks if possible and return the number of blocks\n"
"for which the estimate is valid.\n"
"\nArguments:\n"
"1. nblocks (numeric)\n"
"2. conservative (bool, optional, default=true) Whether to return a more conservative estimate which\n"
" also satisfies a longer history. A conservative estimate potentially returns a higher\n"
" feerate and is more likely to be sufficient for the desired target, but is not as\n"
" responsive to short term drops in the prevailing fee market\n"
"1. conf_target (numeric) Confirmation target in blocks (1 - 1008)\n"
"2. \"estimate_mode\" (string, optional, default=CONSERVATIVE) The fee estimate mode.\n"
" Whether to return a more conservative estimate which also satisfies\n"
" a longer history. A conservative estimate potentially returns a\n"
" higher feerate and is more likely to be sufficient for the desired\n"
" target, but is not as responsive to short term drops in the\n"
" prevailing fee market. Must be one of:\n"
" \"UNSET\" (defaults to CONSERVATIVE)\n"
" \"ECONOMICAL\"\n"
" \"CONSERVATIVE\"\n"
"\nResult:\n"
"{\n"
" \"feerate\" : x.x, (numeric) estimate fee-per-kilobyte (in " + CURRENCY_UNIT + ")\n"
" \"feerate\" : x.x, (numeric, optional) estimate fee-per-kilobyte (in " + CURRENCY_UNIT + ")\n"
" \"errors\": [ str... ] (json array of strings, optional) Errors encountered during processing\n"
" \"blocks\" : n (numeric) block number where estimate was found\n"
"}\n"
"\n"
"A negative value is returned if not enough transactions and blocks\n"
"The request target will be clamped between 2 and the highest target\n"
"fee estimation is able to return based on how long it has been running.\n"
"An error is returned if not enough transactions and blocks\n"
"have been observed to make an estimate for any number of blocks.\n"
"\nExample:\n"
+ HelpExampleCli("estimatesmartfee", "6")
);

RPCTypeCheck(request.params, {UniValue::VNUM});

int nBlocks = request.params[0].get_int();
RPCTypeCheck(request.params, {UniValue::VNUM, UniValue::VSTR});
RPCTypeCheckArgument(request.params[0], UniValue::VNUM);
unsigned int conf_target = ParseConfirmTarget(request.params[0]);
bool conservative = true;
if (request.params.size() > 1 && !request.params[1].isNull()) {
RPCTypeCheckArgument(request.params[1], UniValue::VBOOL);
conservative = request.params[1].get_bool();
FeeEstimateMode fee_mode;
if (!FeeModeFromString(request.params[1].get_str(), fee_mode)) {
throw JSONRPCError(RPC_INVALID_PARAMETER, "Invalid estimate_mode parameter");
}
if (fee_mode == FeeEstimateMode::ECONOMICAL) conservative = false;
}

UniValue result(UniValue::VOBJ);
UniValue errors(UniValue::VARR);
FeeCalculation feeCalc;
CFeeRate feeRate = ::feeEstimator.estimateSmartFee(nBlocks, &feeCalc, conservative);
result.push_back(Pair("feerate", feeRate == CFeeRate(0) ? -1.0 : ValueFromAmount(feeRate.GetFeePerK())));
CFeeRate feeRate = ::feeEstimator.estimateSmartFee(conf_target, &feeCalc, conservative);
if (feeRate != CFeeRate(0)) {
result.push_back(Pair("feerate", ValueFromAmount(feeRate.GetFeePerK())));
} else {
errors.push_back("Insufficient data or no feerate found");
result.push_back(Pair("errors", errors));
}
result.push_back(Pair("blocks", feeCalc.returnedTarget));
return result;
}
Expand All @@ -876,17 +893,17 @@ UniValue estimaterawfee(const JSONRPCRequest& request)
{
if (request.fHelp || request.params.size() < 1 || request.params.size() > 2)
throw std::runtime_error(
"estimaterawfee nblocks (threshold)\n"
"estimaterawfee conf_target (threshold)\n"
"\nWARNING: This interface is unstable and may disappear or change!\n"
"\nWARNING: This is an advanced API call that is tightly coupled to the specific\n"
" implementation of fee estimation. The parameters it can be called with\n"
" and the results it returns will change if the internal implementation changes.\n"
"\nEstimates the approximate fee per kilobyte needed for a transaction to begin\n"
"confirmation within nblocks blocks if possible.\n"
"confirmation within conf_target blocks if possible.\n"
"\nArguments:\n"
"1. nblocks (numeric) Confirmation target in blocks (1 - 1008)\n"
"1. conf_target (numeric) Confirmation target in blocks (1 - 1008)\n"
"2. threshold (numeric, optional) The proportion of transactions in a given feerate range that must have been\n"
" confirmed within nblocks in order to consider those feerates as high enough and proceed to check\n"
" confirmed within conf_target in order to consider those feerates as high enough and proceed to check\n"
" lower buckets. Default: 0.95\n"
"\nResult:\n"
"{\n"
Expand Down Expand Up @@ -914,12 +931,9 @@ UniValue estimaterawfee(const JSONRPCRequest& request)
+ HelpExampleCli("estimaterawfee", "6 0.9")
);

RPCTypeCheck(request.params, {UniValue::VNUM, UniValue::VNUM, UniValue::VNUM}, true);
RPCTypeCheck(request.params, {UniValue::VNUM, UniValue::VNUM}, true);
RPCTypeCheckArgument(request.params[0], UniValue::VNUM);
int nBlocks = request.params[0].get_int();
if (nBlocks < 1 || (unsigned int)nBlocks > ::feeEstimator.HighestTargetTracked(FeeEstimateHorizon::LONG_HALFLIFE)) {
throw JSONRPCError(RPC_INVALID_PARAMETER, "Invalid nblocks");
}
unsigned int conf_target = ParseConfirmTarget(request.params[0]);
double threshold = 0.95;
if (!request.params[1].isNull()) {
threshold = request.params[1].get_real();
Expand All @@ -935,9 +949,9 @@ UniValue estimaterawfee(const JSONRPCRequest& request)
EstimationResult buckets;

// Only output results for horizons which track the target
if ((unsigned int)nBlocks > ::feeEstimator.HighestTargetTracked(horizon)) continue;
if (conf_target > ::feeEstimator.HighestTargetTracked(horizon)) continue;

feeRate = ::feeEstimator.estimateRawFee(nBlocks, threshold, horizon, &buckets);
feeRate = ::feeEstimator.estimateRawFee(conf_target, threshold, horizon, &buckets);
UniValue horizon_result(UniValue::VOBJ);
UniValue errors(UniValue::VARR);
UniValue passbucket(UniValue::VOBJ);
Expand Down Expand Up @@ -989,9 +1003,9 @@ static const CRPCCommand commands[] =
{ "generating", "generatetoaddress", &generatetoaddress, true, {"nblocks","address","maxtries"} },
#endif // ENABLE_MINER
{ "util", "estimatefee", &estimatefee, true, {"nblocks"} },
{ "util", "estimatesmartfee", &estimatesmartfee, true, {"nblocks", "conservative"} },
{ "util", "estimatesmartfee", &estimatesmartfee, true, {"conf_target", "estimate_mode"} },

{ "hidden", "estimaterawfee", &estimaterawfee, true, {"nblocks", "threshold"} },
{ "hidden", "estimaterawfee", &estimaterawfee, true, {"conf_target", "threshold"} },
};

void RegisterMiningRPCCommands(CRPCTable &t)
Expand Down

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