Bitcoin update to raise data limit on divisive OP_RETURN function

1 day ago

An upcoming Bitcoin bundle update volition summation the information bounds connected a divisive relation that volition let importantly much images, substance and documents to beryllium stored connected the Bitcoin blockchain, a developer says.

The Bitcoin Core 30 update slated for Oct. 30 volition region the 80-byte bounds connected the arguable OP_RETURN relation and let each output to transportation up to 4 megabytes of data, Bitcoin Core developer Gloria Zhao posted to GitHub connected Monday.

It comes 3 days aft 31 Bitcoin Core devs signed a statement supporting the change, known arsenic merged propulsion petition (MPR) #32406. The Bitcoin devs indicated connected May 5 that the data bounds would beryllium removed.

OP_RETURN enabled the Ordinals craze past year, allowing Bitcoin users to station everything connected the blockchain from non-fungible token-like collections to the Afghan warfare logs published by WikiLeaks successful 2010.

The slated alteration infuriated the blimpish sect of the Bitcoin community, who reason that non-financial information clogs the blockchain with spam and judge the web should absorption connected peer-to-peer Bitcoin (BTC) transactions.

Crypto concern steadfast Reforge co-founder Alexander Lin said connected X that the information bounds enlargement is simply a “terrible mistake,” and claimed upping the bounds connected the relation “increases systemic hazard to btc’s halfway spot arsenic sound money.”

Other Bitcoiners, including the pb writer of the proposal, Peter Todd, judge expanding the information bounds volition grow Bitcoin’s usage cases beyond finance.

Bitcoin devs accidental fto the users decide

In the GitHub statement, Zhao said the Bitcoin Core devs favored a much hands-off approach, allowing users to utilize the concatenation nevertheless they choose:

“Demanding that Bitcoin Core forestall definite transactions from being mined reflects a misunderstanding of the narration betwixt unfastened root bundle users and developers.”

Faith successful Bitcoin Core “broken”

Several Bitcoiners voiced vexation connected the information bounds expansion, including Satoshi Action Fund CEO Dennis Porter.

“I’ve helped rise implicit $200,000 for halfway devs during my clip successful Bitcoin. My religion successful their enactment is present broken,” Porter said, adding that helium volition nary longer enactment Bitcoin Core development.

Jason Hughes, vice president of Bitcoin mining steadfast Ocean, hinted that helium whitethorn locomotion distant from the Bitcoin industry.

“Personally, I’m retired of vigor connected this fight,” helium said successful a lengthy X post.

Bitcoin Core losing marketplace share

Since Todd introduced MPR #32406 connected April 28, Bitcoin Core’s dominance successful the marketplace stock of Bitcoin nodes has fallen from astir 98% to a small implicit 88%, a pseudonymous Bitcoiner noted connected X.

The Bitcoin Knots lawsuit has chalked up astir all, if not all, of that marketplace share, which is present sitting astatine 11.48%, coin.dance data shows.

Bitcoin commentator Matthew R. Kratter said the determination to rise the information bounds could spell semipermanent occupation for Bitcoin Core, adding its dominance could autumn to the 20-30% scope wrong the adjacent 1 to 3 years.