Author: Robert Backhaus 2013-04-10 03:52:17
Published on: 2013-04-10T03:52:17+00:00
On the Bitcoin-development mailing list, Gregory Maxwell proposed a change to the Bitcoin protocol that involves defining a new address type called P2SH^2. This new address type is similar to P2SH but is a hash of a P2SH address rather than a hash of the ScriptPubKey. To relay a P2SH^2 address, nodes must include the inner P2SH address, which can be trivially verified by hashing it. If miners mine P2SH^2 addresses without relaying the P2SH address, a block discouragement rule can be introduced. This change eliminates non-prunable locations for users to store data in the blockchain, except for values. The same approach can also be applied to OP_RETURN PUSH value outputs. By making the data outside of the transaction and including the preimage of the hash, this approach can be used to link transactions to data. The proposal allows for interesting uses such as creating date stamps while denying the possibility of storing data in the blockchain.
Updated on: 2023-06-06T14:52:56.000287+00:00