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Clarified to address errata #151308

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Andreas M. Antonopoulos 2015-01-18 12:59:33 -05:00
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@ -457,7 +457,7 @@ When executed, this combined script will evaluate to TRUE if, and only if, the u
((("ledger, storing unrelated information in")))((("OP_RETURN operator")))((("transactions","storing unrelated information in")))Bitcoin's distributed and timestamped ledger, the blockchain, has potential uses far beyond payments. Many developers have tried to use the transaction scripting language to take advantage of the security and resilience of the system for applications such as((("digital notary services")))((("smart contracts")))((("stock certificates"))) digital notary services, stock certificates, and smart contracts. Early attempts to use bitcoin's script language for these purposes involved creating transaction outputs that recorded data on the blockchain; for example, to record a digital fingerprint of a file in such a way that anyone could establish proof-of-existence of that file on a specific date by reference to that transaction. ((("ledger, storing unrelated information in")))((("OP_RETURN operator")))((("transactions","storing unrelated information in")))Bitcoin's distributed and timestamped ledger, the blockchain, has potential uses far beyond payments. Many developers have tried to use the transaction scripting language to take advantage of the security and resilience of the system for applications such as((("digital notary services")))((("smart contracts")))((("stock certificates"))) digital notary services, stock certificates, and smart contracts. Early attempts to use bitcoin's script language for these purposes involved creating transaction outputs that recorded data on the blockchain; for example, to record a digital fingerprint of a file in such a way that anyone could establish proof-of-existence of that file on a specific date by reference to that transaction.
((("blockchains","storing unrelated information in")))The use of bitcoin's blockchain to store data unrelated to bitcoin payments is a controversial subject. Many developers consider such use abusive and want to discourage it. Others view it as a demonstration of the powerful capabilities of blockchain technology and want to encourage such experimentation. Those who object to the inclusion of non-payment data argue that it causes "blockchain bloat," burdening those running full bitcoin nodes with carrying the cost of disk storage for data that the blockchain was not intended to carry. Moreover, such transactions create UTXO that cannot be spent, using the destination bitcoin address as a free-form 20-byte field. Because the address is used for data, it doesn't correspond to a private key and the resulting UTXO can _never_ be spent; it's a fake payment. This practice causes the size of the in-memory UTXO set to increase and these transactions that can never be spent are therefore never removed, forcing bitcoin nodes to carry these forever in RAM, which is far more expensive. ((("blockchains","storing unrelated information in")))The use of bitcoin's blockchain to store data unrelated to bitcoin payments is a controversial subject. Many developers consider such use abusive and want to discourage it. Others view it as a demonstration of the powerful capabilities of blockchain technology and want to encourage such experimentation. Those who object to the inclusion of non-payment data argue that it causes "blockchain bloat," burdening those running full bitcoin nodes with carrying the cost of disk storage for data that the blockchain was not intended to carry. Moreover, such transactions create UTXO that cannot be spent, using the destination bitcoin address as a free-form 20-byte field. Because the address is used for data, it doesn't correspond to a private key and the resulting UTXO can _never_ be spent; it's a fake payment. These transactions that can never be spent are therefore never removed from the UTXO set and cause the size of the UTXO database to forever increase, or "bloat".
In version 0.9 of the Bitcoin Core client, a compromise was reached with the introduction of the +OP_RETURN+ operator. +OP_RETURN+ allows developers to add 40 bytes of nonpayment data to a transaction output. However, unlike the use of "fake" UTXO, the +OP_RETURN+ operator creates an explicitly _provably unspendable_ output, which does not need to be stored in the UTXO set. +OP_RETURN+ outputs are recorded on the blockchain, so they consume disk space and contribute to the increase in the blockchain's size, but they are not stored in the UTXO set and therefore do not bloat the UTXO memory pool and burden full nodes with the cost of more expensive RAM. In version 0.9 of the Bitcoin Core client, a compromise was reached with the introduction of the +OP_RETURN+ operator. +OP_RETURN+ allows developers to add 40 bytes of nonpayment data to a transaction output. However, unlike the use of "fake" UTXO, the +OP_RETURN+ operator creates an explicitly _provably unspendable_ output, which does not need to be stored in the UTXO set. +OP_RETURN+ outputs are recorded on the blockchain, so they consume disk space and contribute to the increase in the blockchain's size, but they are not stored in the UTXO set and therefore do not bloat the UTXO memory pool and burden full nodes with the cost of more expensive RAM.