Author: Mark Friedenbach 2013-12-20 18:41:31
Published on: 2013-12-20T18:41:31+00:00
Peter Todd, a former Bitcoin Core developer, posted an email to the bitcoin-dev mailing list in 2013 saying he thought unspent transaction output (UTXO) commitments were a bad idea. Todd argued that UTXO commitments forced miners and every full node with SPV clients to store the entire UTXO set in perpetuity. Todd also argued that UTXO commitments made it easy and convenient to implement systems like Namecoin on top of Bitcoin, yet Bitcoin didn't have the UTXO expiration that might make such uses reasonable. Todd claimed that security model of UTXO commitments encouraged wallets to essentially trust single confirmations because it's unlikely that nodes would want to store the multiple copies of the UTXO set required to provide proof of multiple confirmations.
Updated on: 2023-06-07T22:42:19.615293+00:00