Author: Kostas Karasavvas 2021-04-16 19:15:28
Published on: 2021-04-16T19:15:28+00:00
In an email to Christopher Gilliard via bitcoin-dev, Konstantinos A. Karasavvas provided feedback on Gilliard's proposal for a layer two protocol that would allow for the aggregation of OP_RETURN data using a single merkle root. Karasavvas pointed out that while Gilliard had stated that OP_RETURN was limited to 40 bytes of data, it is actually 80 bytes. Additionally, Karasavvas requested more information on the proposed BIP, stating that it should outline how the substitution of all OP_RETURNs with one root would be done, including details on where merkle proofs would be stored and what trust assumptions would need to be made.Karasavvas also raised objections to the proposal, including the need for a hard-fork and the lack of incentives for users to justify the added complexity. He noted that there are already multiple layer two solutions that use merkle trees to aggregate data hashes, such as Factom, Opentimestamps, Tierion, and Blockstacks. However, he ultimately argued that any proposed L2 solution must be flexible and generic enough to allow for innovation similar to that allowed by OP_RETURN. Karasavvas concluded his email by providing his contact information and links to his professional profiles.
Updated on: 2023-06-14T20:07:22.003659+00:00