Published on: 2023-08-02T05:58:53+00:00
The debate revolves around introducing a pricing mechanism for space in the Unspent Transaction Output (UTXO) set. Currently, the UTXO set space is not priced, which causes uncertainty in classifying transactions as spam or legitimate. The UTXO set must be maintained by all nodes, including pruned nodes, making it more valuable than chain space. Introducing a pricing mechanism may lead to inscriptions disappearing as users would have to pay for their usage. However, this proposition may be controversial and offensive to some Bitcoin users. Pricing space in the UTXO set remains an open discussion. It is argued that differentiating transaction types on the network should not be done for privacy and censorship resistance. Limited blockchain resources should go to the highest bidder, based on the value they provide to the marketplace against the cost to the network. The growth rate of the blockchain is not caused by Ordinals, but rather by the limit on storage that can be added per block.
Updated on: 2023-08-11T15:43:37.028667+00:00