Author: Pieter Wuille 2021-09-30 22:07:08
Published on: 2021-09-30T22:07:08+00:00
In a Bitcoin-dev thread, Pieter Wuille joined the conversation and agreed with David Harding's statement that UTXO set size is an externality that Bitcoin's consensus rules fail to account for. He believes that having a relay policy that avoids economically irrational behavior makes perfect sense. However, it's not obvious how consensus rules could deal with this since you don't want consensus rules with hardcoded prices/feerates. Colored coin protocols may have no business being on the Bitcoin chain, according to Pieter, as there is little benefit for tokens with a trusted issuer already, and because it competes with using Bitcoin for BTC. Range proofs have a non-hidden range that can be required as part of a relay policy.
Updated on: 2023-05-23T15:27:27.553776+00:00