Author: Joost Jager 2023-06-10 07:43:52
Published on: 2023-06-10T07:43:52+00:00
The email exchange discusses the potential value of a taproot annex design for unstructured data use-cases. The annex's improved space efficiency would benefit existing data storage uses that utilize OP_RETURN or inscriptions, as well as applications that would ideally use covenants. One critical application involves time-locked vaults, where pre-signed transactions signed using an ephemeral key can fill the gap and improve the safeguarding of Bitcoin in the short term. However, without the annex, due to the described circular reference problem, the vault creation and signature backup cannot be executed in one atomic operation, making it less safe. This use case for the annex has been labeled 'speculative' elsewhere, but it is relevant. Regarding the trade-offs associated with various encodings, Joost proposes adopting a simple approach to the Taproot annex to avoid a potentially long standardization process. Simpler changes often encounter less resistance and can be implemented more swiftly. Antoine suggests using annex tags in the future where the signer is committing to the total weight of the transaction or even the max per-input annex size to prevent a coinjoin or aggregated commitment transaction counterparty from inflating its annex space to downgrade the overall transaction feerate.Overall, the email exchange highlights the potential benefits and challenges associated with the adoption of a taproot annex design for unstructured data use-cases. It also emphasizes the importance of considering trade-offs when proposing changes and the potential solutions to address concerns about transaction-relay jamming griefing issues.
Updated on: 2023-06-16T18:43:00.836972+00:00