[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.
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