Re: [Bitcoin-development] To prevent arbitrary data storage in txouts — The Ultimate Solution

[Gregory Maxwell <gmaxwell@gmail.com>]

On Tue, Apr 9, 2013 at 8:52 PM, Robert Backhaus <robbak@robbak.com> wrote:
> That sounds workable. I take it that the P2SH address is not stored? I like
> it that this denies the possibility of storing data in the block chain, but
> does not block interesting uses like creating date stamps - You can still
> store the 'fake P2SH' value whose checksum is secured by the blockchain.

Correct. It doesn't prevent value commitment (which is actually what
we need for our currency use), just data storage.

And as Peter points out— you could try to store a little data, but
that has a computational cost which is exponential in the amount of
data stored per output. ... like storing data in values, thats awkward
enough to not be especially problematic, I expect.