Cardano Founder Responds to Bitcoin Core Update Controversy
A proposal to modify Bitcoin's transaction data handling has sparked debate among developers. The focus is on the OP_RETURN feature, with concerns about its misuse for non-financial data storage.
Key Points from the Discussion
- Charles Hoskinson, Cardano founder, shared a GIF in response to the controversy, indicating prior warnings about the situation.
- Developer Jason Hughes flagged a Bitcoin Core pull request that could alter transaction relay policy, allowing more arbitrary data before reaching the blockchain.
- Hughes warned of potential issues: slower transactions, overloaded nodes, and blockchain bloat, threatening Bitcoin's stability.
- He recommended using Bitcoin Knots, which imposes stricter controls on transaction types.
- Hughes urged mining pools like AntPool and ViaBTC to reject the proposed changes to maintain Bitcoin's original design.
- Hoskinson's comments highlight growing concerns regarding Bitcoin's development direction.
- Criticism arose over Bitcoin wallet support for the OP_RETURN feature, with many wallets lacking this capability.
- Developer Peter Todd proposed a soft fork to limit data types allowed in OP_RETURN fields to prevent network abuse.
- Arthur Hayes, BitMEX founder, predicts Bitcoin could reach $1.5 million by 2028, driven by U.S. economic policies. Current trading price is $95,123.30.