Author: ZmnSCPxj 2020-06-07 15:01:42
Published on: 2020-06-07T15:01:42+00:00
The article discusses the idea of stamping transactions to keep the size of the blockchain as small as possible. However, it is argued that stamping transaction is not how one can be able to keep blockchain size low since very old history is retained to prove that you are the correct owner of the current coins when starting a new node. The proposal would require a hardfork and validation is expected to become more expensive as the blockchain grows. Stamped transactions are more expensive than unstamped transactions due to their larger size. This creates an incentives problem because users will prefer to run older versions and never upgrade to the new version that requires stamped transactions. Finally, it is pointed out that the stamp does not reduce mempool size and re-sending the same transaction with a fresh stamp increases bandwidth use.
Updated on: 2023-06-14T02:15:36.918900+00:00