Author: Andreas M. Antonopoulos 2013-06-06 20:16:40
Published on: 2013-06-06T20:16:40+00:00
The discussion revolves around the use of blockchain as a storage solution and whether or not non-payment related content should be allowed. The fees for storing data in the blockchain are subsidized, and only the miner receives the fees, not the majority of nodes which have to bear the burden of the data. Discriminating based on transaction content violates neutrality of the protocol and removes a large possibility of future innovation. The suggestion is to allow hashes of content instead of storing the content itself. Merged mining solves this problem by linking the bitcoin blockchain with unlimited other data through a single extra hash in the coinbase.
Updated on: 2023-06-06T18:24:14.948813+00:00