BRC-20 causing network congestion, what do Bitcoin developers think?

Original Title: BRC-20 Causes Network Congestion, What Do Bitcoin Developers Think?

Original Source: Wu Shuo Blockchain

The issue of high transaction fees caused by the popularity of Inscription and BRC-20 on the Bitcoin network has been discussed in the Bitcoin developer community.

On May 8th, Ali Sherief, a core developer of Bitcoin, initiated a discussion on the Bitcoin development mailing list, questioning whether Bitcoin developers should take action against such "worthless" transactions and proposing an optional solution, which is to "introduce a runtime option to immediately remove all non-standard Taproot transactions".

Currently, there are many developers participating in the discussion. Some believe that such transactions should be directly reviewed, while others believe that this is the way the system operates and does not require intervention. There are also suggestions to make appropriate adjustments or divert to L2. Wu summarized as follows:

Ali Sherief (initiator of the discussion): "Recently, due to projects such as BRC-20 occupying a large amount of trading volume, the real Bitcoin trading price has become too high, leading to a large-scale congestion in the Bitcoin transaction pool. This situation has been rare since December 2017. These almost worthless tokens threaten the normal use of the Bitcoin network as a peer-to-peer digital currency. If the trading volume does not decrease in the next few weeks, should measures be taken? The Bitcoin network is a three-party structure of developers, miners, and users, and miners are often the main body that causes the system to be abused, so the harmony of Bitcoin transactions is currently being disrupted. We should consider taking action to narrow the loopholes in BIP 342 and achieve this goal through the submission of BIP and Bitcoin core code library. Another alternative is to implement "review" at the node level and introduce runtime options to immediately clear all non-standard Taproot transactions. This solution is easier to implement, but it needs to be released at least once. We need to find a solution for everyone, although some people may have criticisms, we have a responsibility to ensure that this congestion does not happen again."

I am an industry practitioner in the encryption field. Please translate the following Chinese text into English without considering the context or industry-specific terms and names. Do not omit any English words or phrases, such as ZKS, STARK, SCROLL. If there are English characters in an "a" tag, do not translate them and return them directly. When the content only contains punctuation marks, return them as they are. Do not translate HTML tags in the content, such as

, , ,

, etc. If there are English characters in the HTML tags, omit the translation and return them directly. Please preserve the content in the "a" tags. Do not translate any Chinese characters. The content to be translated is:

Link:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021620.html

Michael Folkson: "Miners include transactions with high fees and compliant with consensus rules in the blocks. If users do not like the transactions included by miners, there are two theoretical options: consensus rule changes or policy changes. The former requires a soft fork, which is difficult to implement and has limited effects; the latter does not require consensus rule changes, but it is still possible to submit transactions directly to miners bypassing the P2P network. The design decision of BIP 342 has technical reasons and cannot simply divide data into useful and useless. Policy or consensus rule changes are not feasible. The availability of transactions is not related to the use of Taproot or Pre-Taproot addresses, but to the limited block space and market demand. Blind policy or consensus rule adjustments may have unintended consequences."

I am an industry practitioner in the encryption field. Please translate the following Chinese text into English without considering the context or industry-specific terms and names. Do not omit any English words or phrases, such as ZKS, STARK, SCROLL. If there are English characters in an "a" tag, do not translate them and return them directly. When the content only contains punctuation marks, return them as they are. Do not translate HTML tags in the content, such as

, , ,

, etc. If there are English characters in the HTML tags, omit the translation and return them directly. Please preserve the content in the "a" tag. Do not translate any Chinese characters. The content to be translated is:

Link:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021625.htmlErik Aronesty: "The main goal of Bitcoin may only be currency use cases, rather than becoming the global ledger for everything. It can provide a permanent incentive mechanism for non-economic transactions to remain off-chain (L2)."

Link:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021635.htmlLuke Dashjr: "Action should have been taken months ago. Spam filtering has been a standard feature of Bitcoin Core since its inception. It is a mistake not to extend existing filters to Taproot transactions now. We can address this issue or try a more limited approach, such as what Ordisrespector has done with OP_RETURN. As this is a bug fix, it doesn't even require waiting for a major release."

Link:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021631.html

Peter Todd: "Miners are the beneficiaries of this boom, and even with restrictions, they have ways to bypass them. Many people like me don't run nodes to scrutinize those transactions."

Link:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021634.html

jk_14 (Jaroslaw): "The proliferation of spam transactions is not the root cause, but rather the high transaction fees. It is suggested to address the long-term security budget issue of Bitcoin in order to reduce transaction costs."

I am an industry practitioner in the encryption field. Please translate the following Chinese text into English without considering the context or industry-specific terms and names. Do not omit any English words or phrases, such as ZKS, STARK, and SCROLL. If there are English characters in an a tag, do not translate them and return the tag as is. If the content only contains punctuation marks, return them as is. Do not translate HTML tags such as

, , , and

. If an HTML tag contains English characters, omit the translation and return it as is. Please preserve the content within a link. Do not translate any Chinese characters. The text to be translated is:

Link:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021641.html

Aleksandr: "There are two ways to approach this. Either limit the block capacity that these types of transactions can occupy to a maximum of 10%, or change the structure so that the fees for these transactions become more expensive, pushing them towards layer 2 solutions like the Lightning Network."

I am a practitioner in the encryption industry. Please translate the following Chinese text into English without considering the context or industry-specific terms and names. Do not omit any English words or phrases, such as ZKS, STARK, SCROLL. If there are English characters in an tag, do not translate them and return the tag as is. If the content only contains punctuation marks, return them as is. Do not translate HTML tags such as

, , ,

, etc. If an HTML tag contains English characters, omit the translation and return it as is. Please preserve the content within tags. Do not translate any Chinese characters. The text to be translated is:

Link:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021670.html

Learn more:

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/date.html

Other viewpoints:

Samson Mow said in an interview with Cointelegraph that the hype around Ordinals and BRC-20 tokens is unsustainable and will disappear in a few months. Essentially, it is paying huge fees directly to Bitcoin miners, which cannot continue. Samson Mow believes that they are clogging up the network like spam, and the widespread adoption of Bitcoin is due to its use as a savings technology and a means of transaction, not because "people are making JPEGs and pasting them on the chain".

Enrico Rubboli, CEO of the Bitcoin layer 2 sidechain Mintlayer, stated that the technology behind Ordinals has "serious flaws" and does not follow the "axioms of the core Bitcoin community." Ordinals may lead to additional regulatory scrutiny of Bitcoin, as new BRC-20 tokens may be considered unregulated securities.

AngelBlock founder Alex Strzesniewski: I have seen strong opposition from many BTC maximalists, but I believe that no one should use their platform to attempt to censor transactions and try to distinguish between valid and invalid transactions on any network.

F2pool: Ordinals is a beneficial exploration of Bitcoin applications, which helps to unlock greater value in the Bitcoin network.

Bitfinex and Tether's CTO Paolo Ardoino stated in an interview with Cointelegraph during Rome Blockchain Week that regarding BRC-20 and Ordinals, if a feature exists, then users have the right to use it, and exchanges should accelerate the adoption of the Lightning Network.

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