Bitcoin Core is about to undergo a significant version update, with the OP_RETURN data limit greatly increased to 4MB
The Bitcoin Core development team announced that a major update will be made in version 30 of Bitcoin Core, scheduled for release in October, directly increasing the OP_RETURN (which is mainly responsible for on-chain data storage) data limit from 80 bytes to nearly 4MB. This change significantly enhances the Bitcoin network's ability to handle non-monetary data, improving efficiency and data processing capacity.
However, this proposal has sparked intense debate within the community. Supporters and opponents have their own arguments, with the focal point being whether Bitcoin nodes should block non-monetary transactions or act as relays for all valid transactions, leading to discussions and heated discussions.
Proponents believe that the harm of OP_RETURN is minimal because its data volume is small, does not increase fee consumption, and will not be added to the core accounting model UTXO of blockchain systems like Bitcoin.
Opponents argue that if the limit is raised, Bitcoin blocks could be filled with spam and non-monetary data, thereby affecting the space for on-chain transactions. They believe that maintaining the status quo is essential to protect Bitcoin's value and efficiency.
They are also concerned that the new version will undermine Bitcoin's economic value and reduce its efficiency, and may weaken node control. For example, commenters such as Seccour, chrisguida, and wizkid057 have expressed such concerns, arguing that this change is a concession to spammers and will encourage abuse of Bitcoin. For instance, storing arbitrary data on the Bitcoin chain could lead users to adopt worse avoidance behaviors, with a typical use case being off-chain transactions between users and miners.
On the other hand, supporters of the update believe that the behavior of storing arbitrary data on the Bitcoin network already exists and cannot be stopped. For example, this will first reduce node traffic, helping to prevent miner centralization; secondly, this is a practical change that aligns with the existing use of the network.
Since 2014, Bitcoin Core has limited the length of OP_RETURN to 80 bytes. In May of this year, the development team announced the removal of this restriction, stating that this move aims to more comprehensively reflect market economic activities, enhance decentralization, maintain Bitcoin's censorship resistance, and ensure the efficient operation of the network.
Do you support the Bitcoin Core version 30 update? Leave your opinions and views in the comments!
#OPRETURN #升级
The Bitcoin Core development team announced that a major update will be made in version 30 of Bitcoin Core, scheduled for release in October, directly increasing the OP_RETURN (which is mainly responsible for on-chain data storage) data limit from 80 bytes to nearly 4MB. This change significantly enhances the Bitcoin network's ability to handle non-monetary data, improving efficiency and data processing capacity.
However, this proposal has sparked intense debate within the community. Supporters and opponents have their own arguments, with the focal point being whether Bitcoin nodes should block non-monetary transactions or act as relays for all valid transactions, leading to discussions and heated discussions.
Proponents believe that the harm of OP_RETURN is minimal because its data volume is small, does not increase fee consumption, and will not be added to the core accounting model UTXO of blockchain systems like Bitcoin.
Opponents argue that if the limit is raised, Bitcoin blocks could be filled with spam and non-monetary data, thereby affecting the space for on-chain transactions. They believe that maintaining the status quo is essential to protect Bitcoin's value and efficiency.
They are also concerned that the new version will undermine Bitcoin's economic value and reduce its efficiency, and may weaken node control. For example, commenters such as Seccour, chrisguida, and wizkid057 have expressed such concerns, arguing that this change is a concession to spammers and will encourage abuse of Bitcoin. For instance, storing arbitrary data on the Bitcoin chain could lead users to adopt worse avoidance behaviors, with a typical use case being off-chain transactions between users and miners.
On the other hand, supporters of the update believe that the behavior of storing arbitrary data on the Bitcoin network already exists and cannot be stopped. For example, this will first reduce node traffic, helping to prevent miner centralization; secondly, this is a practical change that aligns with the existing use of the network.
Since 2014, Bitcoin Core has limited the length of OP_RETURN to 80 bytes. In May of this year, the development team announced the removal of this restriction, stating that this move aims to more comprehensively reflect market economic activities, enhance decentralization, maintain Bitcoin's censorship resistance, and ensure the efficient operation of the network.
Do you support the Bitcoin Core version 30 update? Leave your opinions and views in the comments!
#OPRETURN #升级
