Published on: 2018-09-26T00:00:03+00:00
The Bitcoin mailing list recently discussed a proposal to replace the full blockchain with a UTXO (Unspent Transaction Output) set. This idea suggests that a UTXO block set type could be appended onto the valid chain at certain intervals, containing only the validated UTXO set up to a specific height. By doing this, full nodes would be relieved of the need to store the entire blockchain, leading to significant storage savings and making it easier to run a full node.However, implementing this proposal has consensus implications, and there are some bugs that need to be addressed. The email provides links to an implementation of UTXO loading as well as a script for the open-source Game-of-Life software Golly. In addition, a video was shared demonstrating the game playing out into an apron-shaped image.To encourage participation, the author of the proposal offers a reward of $50 worth of bitcoin to anyone who can provide them with a UTXO Set from the bitcoin client. The goal is to create a recognizable checkpoint for the Bitcoin blockchain, which would facilitate the adoption of full nodes by more people in the future.Overall, the proposal aims to improve the efficiency of running full nodes by replacing the full blockchain with a UTXO set recognizable at a certain block height. This could potentially save storage space and make it easier for more individuals to participate in the Bitcoin network.
Updated on: 2023-08-01T23:55:18.805205+00:00