From: Zach Greenwood <zachgrw@gmail•com>
To: yanmaani@cock•li,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Cc: christopher.gilliard@gmail•com
Subject: Re: [bitcoin-dev] BIP - limiting OP_RETURN / HF
Date: Tue, 20 Apr 2021 10:45:31 +0200 [thread overview]
Message-ID: <CAJ4-pEDEsQCqT9Yiz6WiWahPV5kkxc89XbsDydgEPuoZRU8MvQ@mail.gmail.com> (raw)
In-Reply-To: <050674b8bc51cff11e0a6e105880b647@cock.li>
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[Note: this is my first post to the list]
Businesses storing data on-chain is undesirable but sadly unavoidable.
Therefore one might as well *facilitate* data storage beyond just OP_RETURN
by offering a more efficient way to store data on-chain, while still being
almost as expensive in use per byte of payload (i.e., data) compared to
using OP_RETURN.
Storing data using OP_RETURN is still inefficient per byte of payload so a
more efficient dedicated data storing facility might be created that stores
more payload data per on-chain byte. Such a facility should be (marginally)
cheaper to use per payload byte compared to using a hack such as OP_RETURN.
This would encourage the use of this facility in favor of OP_RETURN or
other hacks, while at the same time dramatically reducing the footprint of
storing data on-chain.
Zac
On Tue, Apr 20, 2021 at 4:29 AM yanmaani--- via bitcoin-dev <
bitcoin-dev@lists•linuxfoundation.org> wrote:
> > If only one hash is allowed per block, then those who wish to utilize
> > the hash will have to out-bid each other ("fee-bidding"). This hash can
> > then be used to create another chain ("merged-mining")
>
> Merged mining at present only needs one hash for a merkle root, and
> that's stored in the coinbase. It would be even simpler to add the
> following rules:
>
> 1) No OP_RETURN transactions allowed at all
> 2) If you want to commit data, do so in that one transaction in the
> coinbase
>
> Also curious about how you'd handle the payment - do I need to put in a
> transaction that burns bitcoins for the tx fee? That isn't free in terms
> of storage either.
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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next prev parent reply other threads:[~2021-04-20 8:45 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
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 [this message]
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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