OP RETURN: Difference between revisions
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'''OP_RETURN''' is a [[script]] opcode used to mark a transaction output as invalid | '''OP_RETURN''' is a [[script]] opcode used to mark a transaction output as invalid. Since any outputs with OP_RETURN are provably unspendable, OP_RETURN outputs can be used to [[Proof of burn|burn]] bitcoins. | ||
== Is storing data in the blockchain acceptable? == | == Is storing data in the blockchain acceptable? == | ||
Many members of the Bitcoin community believe that use of OP_RETURN is irresponsible in part because Bitcoin was intended to provide a record for financial transactions, not a record for arbitrary data. Additionally, it is trivially obvious that the demand for external, massively-replicated data store is essentially infinite. Despite this, the | Many members of the Bitcoin community believe that use of OP_RETURN is irresponsible in part because Bitcoin was intended to provide a record for financial transactions, not a record for arbitrary data. Additionally, it is trivially obvious that the demand for external, massively-replicated data store is essentially infinite. Despite this, OP_RETURN has the advantage of not creating bogus UTXO entries, compared to some other ways of storing data in the blockchain. | ||
From [https://bitcoin.org/en/release/v0.9.0#opreturn-and-data-in-the-block-chain Bitcoin Core release 0.9.0]: | From [https://bitcoin.org/en/release/v0.9.0#opreturn-and-data-in-the-block-chain Bitcoin Core release 0.9.0]: | ||
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== OP_RETURN applications == | == OP_RETURN applications == | ||
OP_RETURN | OP_RETURN can be used for digital asset proof-of-ownership, and has at times been used to convey additional information needed to send transactions (see [[stealth address]]). | ||
== OP_RETURN prefixes == | == OP_RETURN prefixes == | ||
Often, OP_RETURN transactions include a prefix to identify which "protocol" they belong to. | Often, OP_RETURN transactions include a prefix to identify which "protocol" they belong to. Protocols wishing to claim OP_RETURN prefixes should use the standard [[Bitcoin Improvement Proposals]] process. Not all OP_RETURN transactions use prefixes. | ||
{{DISPLAYTITLE:OP_RETURN}} | {{DISPLAYTITLE:OP_RETURN}} | ||
Revision as of 02:17, 7 May 2017
OP_RETURN is a script opcode used to mark a transaction output as invalid. Since any outputs with OP_RETURN are provably unspendable, OP_RETURN outputs can be used to burn bitcoins.
Is storing data in the blockchain acceptable?
Many members of the Bitcoin community believe that use of OP_RETURN is irresponsible in part because Bitcoin was intended to provide a record for financial transactions, not a record for arbitrary data. Additionally, it is trivially obvious that the demand for external, massively-replicated data store is essentially infinite. Despite this, OP_RETURN has the advantage of not creating bogus UTXO entries, compared to some other ways of storing data in the blockchain.
From Bitcoin Core release 0.9.0:
This change is not an endorsement of storing data in the blockchain. The OP_RETURN change creates a provably-prunable output, to avoid data storage schemes – some of which were already deployed – that were storing arbitrary data such as images as forever-unspendable TX outputs, bloating bitcoin's UTXO database.
Storing arbitrary data in the blockchain is still a bad idea; it is less costly and far more efficient to store non-currency data elsewhere.
OP_RETURN applications
OP_RETURN can be used for digital asset proof-of-ownership, and has at times been used to convey additional information needed to send transactions (see stealth address).
OP_RETURN prefixes
Often, OP_RETURN transactions include a prefix to identify which "protocol" they belong to. Protocols wishing to claim OP_RETURN prefixes should use the standard Bitcoin Improvement Proposals process. Not all OP_RETURN transactions use prefixes.