To: bitcoin-dev@lists.linuxfoundation.org
References: <567cdb19-f5b3-6058-9b5b-8a891558d9d5@bitwatch.co>
From: "mbde@bitwatch.co" <mbde@bitwatch.co>
Message-ID: <10fe1a88-af34-4c4e-a0f2-8d618ca04f5a@bitwatch.co>
Date: Thu, 4 Jan 2018 20:38:23 +0100
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Subject: Re: [bitcoin-dev] Raise default datacarriersize to 220 byte or
	higher
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To add some information about the relevance of this:

During December 2017 there were roughly 210.000 Omni Layer transactions,
with more than 12.000 transactions on peak days, and the numbers are
growing.

I assume there is a similar number of Counterparty transactions, which
most likely benefit from additional payload space, too.

mbde--- via bitcoin-dev wrote:
> Hi guys,
> 
> there are several ways to embed arbitrary data into the blockchain, and
> this is used by several meta-protocols. Most protocols at this point use
> OP_RETURN scripts for this.
> 
> To disincentivize the use of other and more harmful methods to embed
> data into the chain, in particular via P2SH, I propose to raise the
> default datacarriersize to 220 byte, so it becomes the "cheapest" way of
> embedding data into the chain.
> 
> The following graph shows the relation between transaction sizes and
> payload sizes: http://i.imgur.com/VAGZWBK.png
> 
> Embedding data with bare-multisig and P2SH can be cheaper in terms of
> effective transaction size, compared to OP_RETURN with a payload limit
> of 80 byte. Both methods of embedding data, via bare-multisig and P2SH,
> were heavily used by the major two meta-protocols on top of Bitcoin:
> Omni and Counterparty, but both protocols started to use OP_RETRUN data
> embedding a long time ago.
> 
> However, currently token sends are usually done one by one, each with a
> single transaction, and this is a heavy burden for the whole network,
> e.g. when an exchange sends out withdrawals.
> 
> We have solutions for "multi-sends with multi-inputs" and also
> considered moving destinations into the payload for token sends, but we
> need more space, otherwise this solution is limited to very few recipients.
> 
> I therefore propose to raise the default datacarriersize to 220 byte or
> higher and I'd be happy to provide a pull request doing so, if this gets
> positive feedback.
> 
> - dexx
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