On Sat, Mar 22, 2014 at 04:47:02AM -0400, Peter Todd wrote:
> There's been a lot of recent hoopla over proof-of-publication, with the
> OP_RETURN <data> length getting reduced to a rather useless 40 bytes at
> the last minute prior to the 0.9 release. Secondly I noticed a
> overlooked security flaw in that OP_CHECKMULTISIG sigops weren't taken
> into account, making it possible to broadcast unminable transactions and
> bloat mempools.(1) My suggestion was to just ditch bare OP_CHECKMULTISIG
> outputs given that the sigops limit and the way they use up a fixed 20
> sigops per op makes them hard to do fee calculations for. They also make
> it easy to bloat the UTXO set, potentially a bad thing. This would of
> course require things using them to change. Currently that's just
> Counterparty, so I gave them the heads up in my email.

I've spend some time looking at the Datacoin code, and I've come to the 
conclusion the next copycatcoin I release will have an explicit 'data' 
field with something like 169 bytes (a bakers dozen squared), which will 
add 1 byte to each transaction if unused, and provide a small, but usable
data field for proof of publication. As a new coin, I can also do a
hardfork that increases the data size limit much easier if there is a
compelling reason to make it bigger.

I think this will prove to be a much more reliable infrastructure for 
proof of publication than various hacks to overcome 40 byte limits with

I am disclosing this here so the bitcoin 1% has plenty of time to evaluate
the market risk they face from the 40 byte limit, and put some pressure to
implement some of the alternatives Todd proposes.

Troy Benjegerdes                 'da hozer'                  ho...@hozed.org
7 elements      earth::water::air::fire::mind::spirit::soul        grid.coop

      Never pick a fight with someone who buys ink by the barrel,
         nor try buy a hacker who makes money by the megahash

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