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Date: Sat, 17 Apr 2021 11:50:08 -0400
From: Peter Todd <pete@petertodd.org>
To: Christopher Gilliard <christopher.gilliard@gmail.com>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Message-ID: <20210417155008.GA3373@petertodd.org>
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Subject: Re: [bitcoin-dev] BIP - limiting OP_RETURN / HF
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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 conse=
nsus
changes. Economics is preventing that just fine.
--=20
https://petertodd.org 'peter'[:-1]@petertodd.org
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