Author: Lautaro Dragan 2018-08-06 00:55:59
Published on: 2018-08-06T00:55:59+00:00
Lautaro Dragan, Tech Lead of Po.et, reached out to the bitcoin-dev community regarding the use of colored coins to store data on the Bitcoin blockchain with prefix "POET". He inquired about the formal/standard process to claim the prefix, as an old version of the OP_RETURN entry of the bitcoin wiki stated that protocols wishing to claim OP_RETURN prefixes should use the standard Bitcoin Improvement Proposals process. However, Peter Todd advised against using a prefix at all from a censorship resistance and anonymity perspective. It is better for the application not to require a prefix for technical reasons. Lautaro agreed and mentioned that although it is easy for them to differentiate OP_RETURN outputs that contain the Po.et prefix, miners can block those transactions altogether. They may have to live with a prefix until they address this issue.
Updated on: 2023-06-13T04:03:53.767799+00:00