From: Peter Todd <pete@petertodd•org>
To: Troy Benjegerdes <hozer@hozed•org>
Cc: bitcoin-development@lists•sourceforge.net
Subject: Re: [Bitcoin-development] Handling miner adoption gracefully for embedded consensus systems via double-spending/replace-by-fee
Date: Sat, 22 Mar 2014 15:08:25 -0400 [thread overview]
Message-ID: <20140322190825.GB6047@savin> (raw)
In-Reply-To: <20140322150836.GG3180@nl.grid.coop>
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On Sat, Mar 22, 2014 at 10:08:36AM -0500, Troy Benjegerdes wrote:
> On Sat, Mar 22, 2014 at 04:47:02AM -0400, Peter Todd wrote:
> > There's been a lot of recent hoopla over proof-of-publication, with the
> > OP_RETURN <data> length getting reduced to a rather useless 40 bytes at
> > the last minute prior to the 0.9 release. Secondly I noticed a
> > overlooked security flaw in that OP_CHECKMULTISIG sigops weren't taken
> > into account, making it possible to broadcast unminable transactions and
> > bloat mempools.(1) My suggestion was to just ditch bare OP_CHECKMULTISIG
> > outputs given that the sigops limit and the way they use up a fixed 20
> > sigops per op makes them hard to do fee calculations for. They also make
> > it easy to bloat the UTXO set, potentially a bad thing. This would of
> > course require things using them to change. Currently that's just
> > Counterparty, so I gave them the heads up in my email.
>
> I've spend some time looking at the Datacoin code, and I've come to the
> conclusion the next copycatcoin I release will have an explicit 'data'
> field with something like 169 bytes (a bakers dozen squared), which will
> add 1 byte to each transaction if unused, and provide a small, but usable
> data field for proof of publication. As a new coin, I can also do a
> hardfork that increases the data size limit much easier if there is a
> compelling reason to make it bigger.
>
> I think this will prove to be a much more reliable infrastructure for
> proof of publication than various hacks to overcome 40 byte limits with
> Bitcoin.
>
> I am disclosing this here so the bitcoin 1% has plenty of time to evaluate
> the market risk they face from the 40 byte limit, and put some pressure to
> implement some of the alternatives Todd proposes.
Lol! Granted, I guess I should "disclose" that I'm working on tree
chains, which just improve the scalability of blockchains directly. I'm
think tree-chains could be implemented as a soft-fork; if applied to
Bitcoin the datacoin 1% might face market risk. :P
--
'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2014-03-22 19:08 UTC|newest]
Thread overview: 36+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-03-22 8:47 Peter Todd
2014-03-22 13:53 ` Jorge Timón
2014-03-22 19:34 ` Peter Todd
2014-03-22 20:12 ` Jorge Timón
2014-03-23 23:17 ` Troy Benjegerdes
2014-03-23 23:53 ` Mark Friedenbach
2014-03-24 20:34 ` Troy Benjegerdes
2014-03-24 20:57 ` Mark Friedenbach
2014-03-25 22:10 ` Troy Benjegerdes
2014-03-26 1:09 ` kjj
2014-03-22 15:08 ` Troy Benjegerdes
2014-03-22 17:04 ` Mark Friedenbach
2014-03-22 19:08 ` Peter Todd [this message]
2014-03-23 22:37 ` Troy Benjegerdes
[not found] ` <532DE7E6.4050304@monetize.io>
2014-03-25 12:28 ` [Bitcoin-development] Tree-chains preliminary summary Peter Todd
2014-03-25 12:45 ` Gavin Andresen
2014-03-25 13:49 ` Peter Todd
2014-03-25 15:20 ` Mike Hearn
2014-03-25 16:47 ` Peter Todd
2014-03-25 17:37 ` Jeff Garzik
2014-03-25 18:02 ` Alan Reiner
2014-03-25 18:13 ` slush
2014-03-25 19:47 ` Peter Todd
2014-03-25 21:41 ` Troy Benjegerdes
2014-03-25 20:40 ` Ricardo Filipe
2014-03-25 22:00 ` Troy Benjegerdes
2014-03-26 10:58 ` Peter Todd
2014-03-25 12:50 ` Peter Todd
2014-03-25 21:03 ` Mark Friedenbach
2014-03-25 22:34 ` Gregory Maxwell
2014-03-27 16:14 ` Jorge Timón
2014-03-28 15:10 ` Troy Benjegerdes
2014-04-17 21:41 ` Tier Nolan
2014-03-26 10:48 ` Peter Todd
2014-08-03 17:23 ` Gregory Sanders
2014-03-24 21:17 ` [Bitcoin-development] Handling miner adoption gracefully for embedded consensus systems via double-spending/replace-by-fee Luke-Jr
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