bitcoin-dev
Ordinals BIP PR
Posted on: November 22, 2023 11:27 UTC
The discussion revolves around the concept of UTXO sets and their relation to transaction fees within the mempool.
The main point is that transaction fees should not be considered bloat since they represent successful competition among transactions for block space. However, there is an acknowledgement that blocks are becoming 'fuller' due to the inclusion of ordinals, which seems to be an intentional design choice by the creators of ordinals.
Ordinals are intended to store data on-chain, which is a core aspect of their design and business logic. There is a suggestion that proposing a change to this approach would fundamentally alter the project in a way that is unlikely to be embraced by the ordinals team. It's mentioned that such a profound alteration might be more suitable for a new, separate project rather than a Bitcoin Improvement Proposal (BIP) at the current stage. The unique selling proposition of storing data on-chain is crucial for ordinals, and any new project without this feature would not truly compete in the same space. Therefore, it is suggested that further action should be postponed until receiving a response from the ordinals team.