Author: Keagan McClelland 2023-08-02 05:58:53+00:00
Published on: 2023-08-02T05:58:53+00:00
There is a debate surrounding whether or not to introduce a pricing mechanism for space in the Unspent Transaction Output (UTXO) set. Currently, the UTXO set space is not priced, which creates uncertainty regarding the classification of certain transactions as spam or legitimate. It is important to note that the UTXO set must be maintained by all nodes, including pruned nodes. This distinguishes it from main block and witness data, which do not have the same indefinite footprint. In fact, the UTXO set can be considered an even more valuable resource than chain space. Introducing a pricing mechanism for UTXOs that reflects the associated resource costs may result in the disappearance of inscriptions, as users would have to pay for their usage. However, implementing such a mechanism would require users to pay "rent" for their Bitcoin accounts. This proposition may be controversial and offensive to a significant portion of the Bitcoin user base. The issue of pricing space in the UTXO set remains open for discussion and further exploration.
Updated on: 2023-08-07T17:37:46.033497+00:00