Posted by Melvin Carvalho
May 8, 2023/16:37 UTC
On May 8, 2023, Ali Sherief sent an email to the bitcoin-dev mailing list discussing the recent congestion in the Bitcoin mempool. He attributed it to side projects such as BRC-20 having high volume transactions, which are pricing out real Bitcoin transactions. Ali expressed concern that these "worthless" tokens threaten the smooth and normal use of the Bitcoin network as a peer-to-peer digital currency, as it was intended to be used. He proposed two potential solutions to address the issue: (i) BIPs and/or (ii) commits into the Bitcoin Core codebase, to curtail the loophole in BIP 342, which defines the validation rules for Taproot scripts, or (iii) enforce censorship at the node level and introduce a run-time option to instantly prune all non-standard Taproot transactions. Ali acknowledged that some people may have criticisms regarding these potential solutions, but emphasized the need to find a common ground solution to ensure that this kind of congestion can never happen again using Taproot.The discussion on high fees and their impact on the network was highlighted, with the suggestion that increasing the block size could make it more challenging to spam, though it may come at the expense of decentralization. The email also referenced a conversation between Gavin and Satoshi from 2010, where they discussed the potential for flooding the payment network with millions of transactions, and the need for transaction fees as a solution.Overall, Ali's email highlights the challenges associated with maintaining the smooth operation of the Bitcoin network while also accommodating new projects and technologies. It underscores the importance of finding solutions that balance the needs of different stakeholders, including developers, miners, and users.
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May 7 - May 12, 2023
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