This October 4th, two developers presented the BIP-447. Soft fork (Soft branching), a change in the rules that nodes can adopt without fragmenting the network.
Title: “Choice reduction of block space for transactions using Poda + any data in Op_return without breaking the revalidation of Merkle Tree,” BIP-447 deals with the use of registrationas data such as text and images is embedded in Bitcoin via op_return. This is the code that adds non-sales information to a transaction.
As reported by Cryptootics, operations with op_return It has been connected to the present «Customer War »reflects the tensions between the various approaches that the authors of BIP-447 consider to be problematic.
- Meanwhile, Luke Dashul introduced it on Bitcoin Knot. Filtered by patterns to block transactions with inscriptions. As read in the BIP-447 repository, this filtering encourages users to avoid P2P (person to person) networks, send transactions directly to large pools, and concentrate mining power on those platforms.
- The other was proposed in the next version of this client, Bitcoin Core V.30, which will be announced this month. Illegal content Like child pornwhich can cause problems.
How does BIP-447 work with Bitcoin?
The BIP-447 text details its operation at three important points:
First, he points out Relax transaction registration via a Soft fork It will increase the cost of The script is complemented (Programs that perform actions) Without increasing the capacity of the block.
If specified, Soft fork It causes them The inscription of op_return takes 4 times That’s today.
This situation exercises economic pressure on what the author understands as “abuse of blockchain” and maintains standard trading efficiency.
As detailed, new nodes use OP_Returns that are greater than 32 bytes to assign large weights to transactions, but they also respect the virtual weight limit of up to 4 megabytes established by Segwit, which is also aware of ancient nodes.
It will ensure blocks Effective for all and maintain consensus of the network.
Second, BIP-447 follows a deployment model known as “UASF” (Soft User Activation). Implement these rules without relying on developer groups They haven’t solved the problem.
In such a way, this UASF gives the node the ability to make individual decisions Customer policy aside.
Third, we will integrate segidata pudable storage optionssegwit (separate validation data and separate spaces), nodes can store only the important parts of the transaction, discard the rest, and relieve the load.
This integration provides node operators Economic protection by reducing hardware costs and legal protection By avoiding storing problematic content.
What are the key points to improve BIP-447 with Bitcoin?
Among the aspects that the proposal promises improvement are:
- Reduce the load on the write node and allow you to see transactions Without preserving the entire UTXO state (non-dose transaction output). This makes it easier to access.
- Reduce bandwidth consumption by sending supplemental data as needed; Traffic Optimization.
- It promotes gradual scalability that allows networks to adapt to nodes of different capabilities without sacrificing security. Furthermore, by reducing the operating costs of such powerful nodes, We encourage more participants to manipulate themStrengthening decentralization.
To discourage excessive use of space in bitcoin files, the op_return output exceeds 32 bytes They will face four timesEliminates weight discounts that can include up to 4 MB in a 1MB space, like Segwit.
In contrast, a 32-byte secdata commitment does not incur this additional penalty. Its design avoids weight gain applied to large data and allows nodes to manage them. Without punishing the space busy.
The scheme creates economic pressure on users Leave a heavy inscription Alternatively, move to a printing format such as segdata.
You can see it in a virtual example contributed by the proposed author.
According to your document, The economic impact of BIP-447 is important. “A 1 MB inscription reduces 4 to 1 (75% less) per block, and 100 kb inscriptions from 40 to 10 (75% less)”.
These changes, according to the text, make the inscription too expensive to continue using them indiscriminately.
The proposed author shows how the cost of a Bitcoin transaction changes dramatically depending on the type at the price of 20 atshis (sat/vb) per virtual byte.
For example, a simple operation costs around 2,800 Satosh (approximately $2.80 for $124,000 BTC) and a Multifilma 2-DE-3 (Multisig) It will rise to approximately 3,200 Satoshu ($3.20).
However, if you register for 1 MB, the price is I shoot up to 20,000,000 Satoshu (approx. $20,000)4 times the current 5,000,000 coal ($5,000).