Author: Moral Agent 2017-08-21 14:26:35
Published on: 2017-08-21T14:26:35+00:00
Bitcoin developers are discussing how to limit the growth of unspent transaction outputs (UTXOs) in order to make Bitcoin sustainable and scalable. One proposed solution involves burning coins that have been inactive for a certain period of time, though some argue that this approach could cause users to lose their coins if they wait too long. Another suggestion is to require a minimum mining fee that increases based on the age of an input. This would keep the coins from being spent but still allow them to exist, while also making it possible to archive UTXO information. Bitcoin developer Thomas Guyot-Sionnest suggests that lost or stale coins could be returned to miners as a fee, which would provide miners with additional revenue as the mining reward halves. He proposes invalidating UTXOs after a certain number of blocks and returning them to a pool that can be reclaimed by miners over time. This would ensure that old blocks are cleared and lost coins eventually get back into circulation, reducing miners' reliance on transaction fees.
Updated on: 2023-06-12T03:44:23.420782+00:00