Author: Велеслав 2017-07-15 05:00:18
Published on: 2017-07-15T05:00:18+00:00
The message is a response to a review of a proposal by Clark Moody. The proposal involves conveniently referring to confirmed transactions. The pull request can be found at https://github.com/bitcoin/bips/pull/555 while the proposed specification is at https://github.com/veleslavs/bips/blob/Bech32_Encoded_TxRef/bip-XXXX-Bech32_Encoded_Transaction_Position_References.mediawiki. The author of the message notes that various variable length encodings were considered and found to have too high an overhead. Instead, the concept of "Display Formats" was proposed. These formats are tailored to specific purposes and can be optimized to a much greater extent. In case there is a hard fork extending Bitcoin's block transaction capacity beyond 8191 transactions, a "Bitcoin Display Format 1" will be defined. In case of a Drive-Chain style extension or other indirect extension to Bitcoin's transactional capacity, a new magic value will be created to define a tailored Display Format for the new system. The author believes that it makes no sense to define an undefined format now. A new format can be defined in the future when the needs of Bitcoin users can be better understood. Clark Moody suggests that the proposal places artificial limitations on the format. The author responds that a variable-length encoding similar to Bitcoin's variable ints could be used. Bit-packing to the 40 bits might also be overkill as one bit-packed byte could suffice. The protocol version would occupy the first two bits, supporting values 0-3.
Updated on: 2023-06-12T01:12:21.013020+00:00