Author: Christopher Gilliard 2021-04-16 21:09:25
Published on: 2021-04-16T21:09:25+00:00
Christopher Gilliard has proposed a BIP to substitute all OP_RETURNs with one root OP_RETURN. Ruben Somsen, in response, agrees with the points made by others and notes that layer two ideas like Christopher's have already been explored by himself and others. He explains how fee-bidding Blind Merged-Mining (BMM) can be achieved using only a covenant structure for transactions. Additionally, he mentions that a decentralized alternative chain does not necessarily require an altcoin, which can be avoided with a perpetual one-way peg. Kostas Karasavvas provides feedback on Christopher's proposal, noting that the BIP should detail how one root OP_RETURN would substitute all the rest, where merkle proofs would be stored, and what trust assumptions would need to be made. Kostas also states that incentives are necessary for users to justify the added complexity of using L2 solutions. Furthermore, he notes that there are multiple L2 solutions that use merkle trees for data aggregation, but they have overhead and trust assumptions that may not be suitable for some use cases. Finally, Christopher has invited comments and suggestions regarding his proposal.
Updated on: 2023-06-14T20:08:54.085584+00:00