Author: Christopher Gilliard 2021-04-16 15:33:40
Published on: 2021-04-16T15:33:40+00:00
The email thread discusses a proposed BIP to limit the amount of OP_RETURN data on the Bitcoin blockchain. The proposal has raised concerns about the need for a hard fork, centralized coordination for Merkle Tree construction, and the potential impact on supply deflation. However, it is suggested that each miner can run additional software to build the tree structure, similar to submitting transactions to the network today. Additionally, there are other ways to achieve proof of burn. Finally, although nodes can safely discard unspendable OP_RETURN outputs at any time to clear disk space, this does not affect initial block download (IBD). The proposal is open for further discussion and updates.
Updated on: 2023-06-14T20:10:13.763765+00:00