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authorPeter Todd <pete@petertodd.org>2023-09-05 18:00:33 +0000
committerbitcoindev <bitcoindev@gnusha.org>2023-09-05 18:00:39 +0000
commit97fa1f6b770acb55c8165f02b99e55d199c01a46 (patch)
treeb7b30dd87f8217351093b8562cbcee05964a358c
parenta37c0b8e5c6bdfb31e87d51786e17bd21a0f3b1a (diff)
downloadpi-bitcoindev-97fa1f6b770acb55c8165f02b99e55d199c01a46.tar.gz
pi-bitcoindev-97fa1f6b770acb55c8165f02b99e55d199c01a46.zip
Re: [bitcoin-dev] Compressed Bitcoin Transactions
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+Date: Tue, 5 Sep 2023 18:00:33 +0000
+From: Peter Todd <pete@petertodd.org>
+To: Andrew Poelstra <apoelstra@wpsoftware.net>,
+ Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
+Message-ID: <ZPdswQ7uAJr35YbC@petertodd.org>
+References: <WJoM7dyrk0o8ujOZOo462r66wS2Kl3L1ZZRodvaLK-HKEUc90yvwOqXbUUrGbV1lk6cOywTqLoCyHzk2Tm3TtBFyUL0NZ6D7v9NmTXypJPA=@protonmail.com>
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+Subject: Re: [bitcoin-dev] Compressed Bitcoin Transactions
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+On Fri, Sep 01, 2023 at 01:56:18PM +0000, Andrew Poelstra via bitcoin-dev w=
+rote:
+> We can swag what the space savings would be: there are 122MM utxos right
+> now, which is a bit under 2^27. So assuming a uniform distribution of
+> prefixes we'd need to specify 28 bits to identify a UTXO. To contrast,
+> to identify a blockheight we need 20 bits and then maybe 12 more bits to
+> specify a TXO within a block. Plus whatever varint overhead we have.
+> (I've been working on this project but busy with family stuff and don't
+> remember exactly where we landed on the varints for this. I think we
+> agreed that there was room for improvement but didn't want to hold up
+> posting the rest of the concept because of it.)
+
+Since most transactions spend txouts that are similar in height to each oth=
+er,
+you could save further bits by specifying a reference height and then encod=
+ing
+the exact txout with a delta.
+
+If you're sending multiple txins or multiple transactions in a single packe=
+t,
+you could achieve this by starting the packet with the reference block heig=
+ht.
+
+If your application tends to send just a single transaction, you could use a
+reference height that is a function of the current time. Since sender and
+receiver might not agree on the exact time, you could try slightly differen=
+ce
+reference heights via bruteforcing until the transaction signatures validat=
+e.
+
+--=20
+https://petertodd.org 'peter'[:-1]@petertodd.org
+
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