Author: Peter Todd 2021-04-17 15:50:08
Published on: 2021-04-17T15:50:08+00:00
In a recent Bitcoin development mailing list, Christopher Gilliard agreed with ZmnSCPxj that there are many ways to embed arbitrary data in the blockchain and it is not feasible to block all of them. Therefore, at the same time as limiting the OP_RETURN to one per block, Gilliard proposed implementing a layer 2 solution for timestamping so people have a clear and simple upgrade path. A potential solution for uniqueness is the scalable single-use-seal asset transfer. However, timestamping is useless for most things people want to do because it can't commit to a unique history. It merely proves something existed in the past. At current fees being what they are, there's no compelling reason to try to prevent people from embedding data in the Bitcoin block chain with consensus changes. An aggregated timestamping service already exists.
Updated on: 2023-06-14T20:10:22.967565+00:00