Author: Gregory Maxwell 2013-04-10 03:58:40
Published on: 2013-04-10T03:58:40+00:00
In an email conversation between Robert Backhaus and others on April 9, 2013, they discuss the use of P2SH addresses in Bitcoin. Backhaus asks if the P2SH address is stored and notes that he likes how this denies storing data in the blockchain but still allows for creating date stamps. It is confirmed that P2SH addresses do not prevent value commitment, which is necessary for currency use, but only prevents data storage. It is also noted that while it is possible to store some data in values, this incurs a computational cost that is exponential in the amount of data stored per output, making it awkward and not especially problematic.
Updated on: 2023-05-19T16:47:27.207615+00:00