Author: Melvin Carvalho 2013-06-06 22:10:11
Published on: 2013-06-06T22:10:11+00:00
In a Bitcoin-development mailing list in June 2013, a discussion took place between Luke-Jr and Andreas Antonopoulos about the use of the blockchain for storing data other than payments. Antonopoulos argued that the fee system should be fixed to allow innovative uses of the distributed timestamping database, while Luke-Jr believed that the fees were intended for security and anti-spam purposes only and that using other people's resources for non-payment storage violated their agreement to use the blockchain for payments. They also discussed the possibility of allowing hashes of content to be stored instead of the content itself. Additionally, Luke-Jr explained the concept of merged mining, which links the Bitcoin blockchain with unlimited other data by tying a non-transactional merkle tree to the blockchain through an extra hash in the coinbase. The merged mining merkle tree stores hashes of multiple other datasets for generic timestamping or anything else.
Updated on: 2023-06-06T18:25:00.032674+00:00