Author: Peter Todd 2014-03-22 19:08:25
Published on: 2014-03-22T19:08:25+00:00
In this email thread, Peter Todd highlights the recent concerns over proof-of-publication, and how the OP_RETURN length has been reduced to 40 bytes prior to the release of Bitcoin 0.9. He also points out a security flaw in which OP_CHECKMULTISIG sigops were not taken into account, making it possible to broadcast unminable transactions and bloat mempools. To address these issues, he suggests ditching bare OP_CHECKMULTISIG outputs. Counterparty is currently the only user of this feature, so they have been informed.Troy Benjegerdes proposes that the next copycatcoin he releases will have an explicit 'data' field with something like 169 bytes, adding 1 byte to each transaction if unused, and providing a small but usable data field for proof of publication. He believes this will be a more reliable infrastructure than various hacks to overcome the 40-byte limit with Bitcoin. He discloses this to give the Bitcoin 1% time to evaluate the market risk they face from the 40-byte limit and put pressure to implement some of the alternatives suggested by Todd.Peter Todd also mentions that he is working on tree chains, which improve the scalability of blockchains directly. He thinks tree-chains could be implemented as a soft-fork, and if applied to Bitcoin, the Datacoin 1% might face market risk.
Updated on: 2023-06-08T15:36:39.234964+00:00