MACS: A Multi-Asset Coin Selection Algorithm for UTXO-based Blockchains

Abstract

In this paper, we propose MACS - a new coin selection algorithm for multi-asset UTXO-based blockchains. MACS addresses the primary coin selection requirements regarding transaction fee, transaction size, UTXO pool size, transaction age, and privacy. We compare the performance of MACS with other coin selection algorithms. The performance evaluation shows that MACS achieves the mentioned requirements while outperforming other coin selection algorithms in terms of having a wider distribution of their number of UTXO inputs. Moreover, UTXOs will not remain in the UTXO pool forever when the MACS algorithm is used since MACS keeps the fraction of old UTXOs oscillating between $0 \%$ and $20 \%$.