Author: Troy Benjegerdes 2014-03-22 15:08:36
Published on: 2014-03-22T15:08:36+00:00
Peter Todd, a Bitcoin developer, expressed concerns about the recent hoopla over proof-of-publication and the reduced OP_RETURN length to 40 bytes before the 0.9 release. He suggested to ditch bare OP_CHECKMULTISIG outputs due to overlooked security flaws that could allow broadcasting unminable transactions and bloat mempools. However, he noted that it would require changes for things using them and gave Counterparty a heads up. In addition, Todd spent time looking at the Datacoin code and concluded that his next copycatcoin will have an explicit "data" field of around 169 bytes, which will add one byte to each transaction if unused, but provide a small data field for proof of publication. Todd believes that this will be a more reliable infrastructure for proof of publication than various hacks to overcome the 40 byte limits with Bitcoin. Troy Benjegerdes suggests that the Bitcoin 1% evaluate the market risk they face from the 40 byte limit and put pressure to implement some of Todd's proposed alternatives.
Updated on: 2023-06-08T15:33:20.270499+00:00