From: Peter Todd <pete@petertodd•org>
To: Christopher Gilliard <christopher.gilliard@gmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] BIP - limiting OP_RETURN / HF
Date: Sat, 17 Apr 2021 11:50:08 -0400 [thread overview]
Message-ID: <20210417155008.GA3373@petertodd.org> (raw)
In-Reply-To: <CAK=nyAxJ_XYDhTE6pNHqWOQ-cLgqc_f-fbQ+EHTkxyiYOhOPUQ@mail.gmail.com>
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On Sat, Apr 17, 2021 at 03:57:55AM +0000, Christopher Gilliard via bitcoin-dev wrote:
> Thanks ZmnSCPxj. Yes, I agree there are many ways to embed arbitrary data
> in the blockchain and it's not feasible to block all of them. That is why
> it's important to, at the same time as limiting the OP_RETURN to one per
> block, also propose and implement a layer 2 solution for timestamping
> so people have a clear and simple upgrade path. That is what I will be
> discussing in one of the BIPs I intend to release early next week.
Note that an aggregated timestamping service already exists:
https://petertodd.org/2016/opentimestamps-announcement
But timestamping is useless for most things people want to do, as it can't
commit to a unique history. It merely proves something existed in the past. For
uniqueness, you need something like:
https://petertodd.org/2017/scalable-single-use-seal-asset-transfer
Anyway, at current fees being what they are there's no compelling reason to try
to prevent people from embedding data in the Bitcoin block chain with consensus
changes. Economics is preventing that just fine.
--
https://petertodd.org 'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2021-04-17 15:50 UTC|newest]
Thread overview: 25+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-04-16 7:45 Christopher Gilliard
2021-04-16 13:56 ` Russell O'Connor
2021-04-16 15:34 ` Christopher Gilliard
2021-04-16 15:55 ` Andrew Poelstra
2021-04-16 23:52 ` ZmnSCPxj
2021-04-17 3:57 ` Christopher Gilliard
2021-04-17 15:50 ` Peter Todd [this message]
2021-04-17 16:57 ` Christopher Gilliard
2021-04-16 13:59 ` Clark Moody
2021-04-16 15:33 ` Christopher Gilliard
2021-04-16 16:32 ` Jeremy
2021-04-16 17:05 ` Christopher Gilliard
2021-04-16 18:00 ` Jeremy
2021-04-16 19:15 ` Kostas Karasavvas
2021-04-16 20:12 ` Christopher Gilliard
2021-04-17 7:41 ` Kostas Karasavvas
2021-04-16 20:30 ` Ruben Somsen
2021-04-16 21:09 ` Christopher Gilliard
2021-04-20 1:23 ` yanmaani
2021-04-20 8:45 ` Zach Greenwood
2021-04-20 17:12 ` Christopher Gilliard
2021-04-20 19:07 ` Ruben Somsen
2021-05-03 5:17 ` ZmnSCPxj
2021-05-04 12:51 ` Ruben Somsen
2021-04-20 1:22 ` yanmaani
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