- Bitcoin Core removes OP_RETURN limit, altering transaction policies.
- Gregory Sanders leads change.
- Community shows mixed reactions.
Lede:
Bitcoin Core, led by Gregory Sanders, announced the removal of the OP_RETURN limit, causing division among the crypto community.
Nut Graph:
Gregory Sanders announces change to Bitcoin Core’s transaction policies, highlighting increased network efficiency.
The removal of the OP_RETURN limit was driven by Bitcoin developers and key industry figures. Gregory Sanders announced this modification, stating it allows transactions with outputs exceeding 80 bytes. This decision is described as necessary to improve network efficiency.
Bitcoin Core’s next release will, by default, relay and mine transactions whose OP_RETURN outputs exceed 80 bytes and allow any number of these outputs. – Gregory Sanders, Bitcoin Core Developer, GitHub
Actions involved Gregory Sanders and Peter Todd, with input from Chaincode Labs, influencing Bitcoin Core’s decision. Peter Todd, responding to Chaincode Labs’ proposal, aims to avoid inefficiencies caused by the previous restriction. Discussions suggest this change will make Bitcoin usage more consistent.
Community reactions are mixed, pending further technical impacts. The change directly affects Bitcoin (BTC), integral to blockchain operations. Observers note that it may discourage inefficient use of block space, though not all support the removal.
Immediate effects include improved blockchain efficiency, with Bitcoin facing evolving usage dynamics. Financial landscapes show no direct institutional or liquidity shifts; however, network functionality might see long-term benefits.
Potential outcomes include shifts in regulatory perspectives if increased on-chain data load impacts security. Historically, debates on data use within Bitcoin reveal longstanding concerns. Insights suggest further monitoring of network efficiency to assess benefits.