Bitcoin Core v30 Update Announcement
Bitcoin Core developers have announced the launch of a second testing version of their highly debated v30 update, which is anticipated to introduce a revamped wallet format and allow for non-monetary data inclusion starting in October. The newly released candidate, designated as Bitcoin Core v30.0rc2, was presented by the Bitcoin Core Project as a major update over the weekend.
Changes to OP_RETURN Opcode
This iteration intends to phase out traditional wallet structures in favor of a simpler command framework, yet it has sparked significant disagreement regarding modifications to the OP_RETURN opcode. This opcode permits users to embed arbitrary data within transactions.
Notably, the update proposes to eliminate the previous limit of 80 bytes for OP_RETURN, broadening it to potentially support transaction outputs of up to nearly 4 megabytes, with an effective removal of the cap. This shift has divided the Bitcoin community along ideological lines.
Community Reactions
Many Bitcoin purists argue that the Bitcoin network should exclusively facilitate financial transactions, contending that excessive use of OP_RETURN to store data leads to a permanent bloating of the blockchain. They emphasize the cost implications, as every node needs to retain this information, potentially resulting in a network burdened by spam and malicious activities.
Conversely, advocates of maximalism argue that as long as users cover the transaction fees, they should have the right to utilize block space as they see fit, claiming that market dynamics will inherently curb malicious practices through financial disincentives.
Concerns from Bitcoin Pioneer Nick Szabo
Although Bitcoin Core backs the upcoming update, which aims for a late October rollout, the timeline remains uncertain due to ongoing testing and vigorous discussions among developers.
Adding to the discourse, Bitcoin pioneer Nick Szabo returned to X after a significant break, contributing his insights into the debate. He cautioned that while network fees are often considered a protective measure for miners against abuse, they may inadequately safeguard full nodes. He pointed out concerns that increasing OP_RETURN limits could exacerbate existing challenges and raise legal implications associated with harmful data housed on the blockchain.
Szabo referenced an important court ruling indicating that node operators are not accountable for data unless they are aware of or can control it.
He suggested that while alternatives for concealing data exist, OP_RETURN allows for easier pruning of information, which could potentially lessen legal liabilities. However, he countered that the presence of illegal content in a straightforward, accessible format is likely to draw more concern from legal authorities compared to data that is obscured and requires specialized tools to access.
Speculation on Szabo’s Identity
Szabo has been a subject of speculation regarding him being Satoshi Nakamoto, Bitcoin’s pseudonymous creator, a title he has consistently refuted. Earlier this year, he took on the role of chief scientist at Jan3, a Bitcoin infrastructure company founded by Samson Mow.
