Author: Gregory Maxwell 2014-02-24 23:13:28
Published on: 2014-02-24T23:13:28+00:00
In an email conversation on February 24th, 2014, Andreas Petersson discussed the use of OP_RETURN and multisig transactions in the blockchain. Petersson suggests that if users want to add extra data to the blockchain, they should use OP_RETURN as it is a superior alternative. However, if a user can include more data with less fees using a multisig transaction, then this will happen. Petersson believes that eventually, block propagation times will have a stronger effect on effective fees rather than dust-limit rules. Therefore, a slightly larger payload than the biggest multisig transaction would be the right answer which is at least 64x3 bytes or 192 bytes. Petersson also notes that there is currently a lot of promotion of data storage as a virtuous use and people are gearing up to directly store data when a commitment would work. He emphasizes that adoption of these practices matters too and suggests that if encouraging people to use hashes is a lost cause, it can always be further relaxed in the future as going the other way is much harder.
Updated on: 2023-05-19T18:12:21.808892+00:00