Author: Peter Todd 2015-05-09 18:45:18
Published on: 2015-05-09T18:45:18+00:00
In an email thread discussing Bitcoin's UTXO (Unspent Transaction Output) database, Jim Phillips suggested that wallet developers should consider reducing the size of the database by changing their UTXO selection algorithms. However, a response argued that UTXO growth might not necessarily be driven by wallets alone, as the global consensus functionality of the UTXO set could also be used by other applications. As an example, a proposal was shared that uses the UTXO set to get consensus over TLC certificate revocations. The author of the proposal, Christopher Allen, was one of the co-authors of the SSL standard. While there may not be much that can be done to stop non-bitcoin related uses of the UTXO set, users are incentivized to use the Bitcoin blockchain due to its superior security in many cases compared to alternatives. Additionally, many of these alternative uses are willing to pay higher fees than typical Bitcoin transactions.
Updated on: 2023-06-09T20:28:25.933907+00:00