Author: Melvin Carvalho 2013-06-06 20:25:54
Published on: 2013-06-06T20:25:54+00:00
Andreas M. Antonopoulos, a renowned Bitcoin expert, raised the question of whether Bitcoin could operate as a platform for various other services while being neutral to payload and as long as the transaction fee is paid. He compared this to the early days of the internet where some said that IP was only for email and did not allow video, voice, or images which led to the development of the web. He suggested solving the issue of un-spendable outputs without foreclosing on the possibility of other transaction payloads that would open up the possibility of layered apps above Bitcoin. This could include hashes of content external to Bitcoin that people want to pay to have timestamped in the blockchain. Luke-Jr disagreed with Andreas’ opinion, stating that data does not belong in the blockchain and that storing data violates the social contract of nodes to store blocks for financial purposes. Luke-Jr suggested making standard outputs unable to store data as well. The discussion ended with the idea that unexpected reuse should not be ruled out in the early stage of the Bitcoin story.
Updated on: 2023-06-06T18:29:40.830369+00:00