13
votes
Accepted
Follow-up to Segwit: Arbitrary data storage in witness?
Am I understanding this correctly?
Yes.
will this transaction have failed the normal rules in Bitcoin Core for relaying transactions
It's a P2TR (taproot) spend. Those spends have different policy ...
- 102k
8
votes
Accepted
DDOS attack via BRC-20 & ordinals on Bitcoin
Do we currently see a DDOS attack on Bitcoin as the mempool is flooded with low value Transactions incl. BRC-20, ordinals etc. (where the transaction fee exceeds the transferred value)?
I get why ...
- 14.7k
6
votes
Accepted
Understanding how ordinals work with the Bitcoin blockchain. What is exactly stored on the blockchain?
Ordinals Inscriptions don't use OP_RETURN, they are embedded within the script of a taproot input. It's not just a link to a file on some website, the entire file is actually published to the ...
- 6,648
5
votes
Accepted
Was the lifting of the Taproot transaction size limit "accidental"? Why would ordinals want to fill a block with OP_RETURNs?
No it was not accidental, see the BIP342 section on Resource Limits
Script size limit: The maximum script size of 10000 bytes does not apply. Their size is only implicitly bounded by the block weight ...
- 4,992
4
votes
How can I tell from the `getrawtransaction` if a transaction signaled Taproot?
It is still not clear to me what tx version number a Taproot transaction uses.
Any transaction version number can have Taproot inputs or outputs.
Is there a way to know via the ins (via ...
- 102k
3
votes
Accepted
How to differentiate between BTC transactions and BRC20 transactions on a blockchain?
How to differentiate between BTC transactions and BRC20 transactions
Well, you can't because they are not disjoint sets, all BRC-20 transactions are also BTC transactions.
You identify BTC ...
- 25.2k
3
votes
Accepted
Does ordinal theory affect fungibility?
Are ordinals just serial numbers attached to specific satoshis?
As I understand it yes. The serial numbers are assigned to transaction outputs.
As I understand it, when an output is spent in a later ...
- 25.2k
3
votes
Was the lifting of the Taproot transaction size limit "accidental"? Why would ordinals want to fill a block with OP_RETURNs?
The previous transaction size limit (pre Taproot) was deliberately relaxed though I can't (yet) find links to historical discussion on whether to relax it or not.
This was addressed on Twitter by ...
- 14.7k
3
votes
Follow-up to Segwit: Arbitrary data storage in witness?
Pieter Wuille has answered the technical question of how these transactions are affected by the rules.
Vojtěch Strnad identified the origin as Ordinals Inscriptions - a kind of NFT.
When I asked &...
- 25.2k
3
votes
Why weren’t Inscriptions possible before taproot by just using OP_RETURN to store the data?
It may have been possible but it would be more expensive to do so. From Michael Folkson Was the lifting of the Taproot transaction size limit "accidental"? Why would ordinals want to fill a ...
- 633
3
votes
Do know which UTXO fees are chosen from? Need help on an inscription in a native segwit wallet
According to the Ordinals FAQ, the ordinals are assigned first-in-first-out. Each satoshi in the inputs is assigned in order to each first available satoshi in the outputs. Any satoshis from the ...
- 72.6k
3
votes
Do know which UTXO fees are chosen from? Need help on an inscription in a native segwit wallet
is there any way to dictate which UTXO the fees come from?
Some wallets have a feature named "coin control".
The fee is simply the difference between input amount and output amount. There ...
- 25.2k
2
votes
Understanding how ordinals work with the Bitcoin blockchain. What is exactly stored on the blockchain?
The MIME data type of that inscription is text/html;charset=utf-8. So maybe it is something like Doom in javascript
Ordinals inscriptions do embed the data in transaction data that occupies space in ...
- 25.2k
2
votes
Can I create an ordinals-like transaction using bcoin / btcwallet?
You can create any kind of script spend with bcoin but for taproot you will need to use the taproot branch which has not yet been sufficiently reviewed or released. You can follow along with this test ...
- 4,992
2
votes
Accepted
Why would someone create a transaction where the fee is bigger than the sum of the outputs?
My guess is those are Ordinals Inscriptions (NFTs). They typically have a single output of 10000 Satoshi (about $28 US).
Update: Yes, typical huge witness data in one I checked. So fee correspondingly ...
- 25.2k
2
votes
Inscriptions with size less than 10Kb were seemingly possible before taproot, why did they become popular only now?
There's really no reason inscriptions couldn't have been done with SegWit v0. The only difference would be that large inscriptions would have to be split across multiple inputs, making the ...
- 6,648
2
votes
Inscriptions with size less than 10Kb were seemingly possible before taproot, why did they become popular only now?
With P2WSH, one could seemingly use the same script structure ("envelope") OP_FALSE OP_IF OP_ENDIF to store up to ~10Kb of data in witness
This is incorrect. The maximum standard witness ...
- 7,027
2
votes
Where exactly is the Inscription media stored in witness signature?
I think this is explained at https://docs.ordinals.com/inscriptions.html
Inscription content is serialized using data pushes within unexecuted conditionals, called "envelopes". Envelopes ...
- 25.2k
2
votes
Accepted
Is the Taproot upgrade really essential for BRC-20 tokens on Bitcoin?
As far as I know, in principle, BRC-20, or something equivalent, only really needs to store about 60 bytes in some predictable location in a Bitcoin transaction. Nothing else.
There is a very long ...
- 25.2k
2
votes
Read ordinal transaction data
As Vojtěch writes in the linked topic, the inscriptions will be found in an unexecuted part of the leaf script of the taproot input. “The leaf script is the second to last element of the witness stack ...
- 72.6k
1
vote
Is the Bitcoin whitepaper embedded in the Bitcoin blockchain?
This command line extracts the bitcoin.pdf from the blockchain:
bitcoin-cli getblock 00000000000000ecbbff6bafb7efa2f7df05b227d5c73dca8f2635af32a2e949 0 | tail -c+92167 | for ((o=0;o<946;++o)) ; do ...
- 477
1
vote
Why there duplicated transactions on the blockchain? (with different hashes)
Transaction outputs (TXOs) are uniquely identified by their outpoint. Each TXO can only be spent once. While these two transactions spend funds received to the same output script, they are spending ...
- 72.6k
1
vote
Why are bitcoin and ordinal wallet addresses different?
Bitcoin and altcoin addresses
Sometimes someone creates a Bitcoin transaction that pays to an address not created in the Bitcoin network but which is an address that looks like a Bitcoin address. The ...
- 25.2k
1
vote
Can someone explain the byte composition of an inscription reveal transaction?
I think Vojtěch Strnad answered your main questions, I just wanted to point out how the inscribed data is encoded:
You wrote:
OP_PUSHBYTES_32
...
- 25.2k
1
vote
Accepted
Can someone explain the byte composition of an inscription reveal transaction?
A taproot script path spend always has at least 2 witness items:
The second-to-last item is the leaf script.
The last item is the "control block" which consists of a leaf version, the ...
- 6,648
1
vote
Is it possible to create a token on the Bitcoin blockchain?
Many different projects have been started as an attempt to bring tokenization on to Bitcoin such as Taro, Counterparty, and RGB. It is worth noting these are not Bitcoin core standards but are ...
- 633
1
vote
Is it possible to create a token on the Bitcoin blockchain?
BRC-20 tokens are created on the Bitcoin blockchain and don't follow Bitcoin rules for halving and mining.
You could think of it as a bit like like writing "IOU €50" on a $1 banknote. The US ...
- 25.2k
1
vote
Accepted
Is there a limit for number of times Ordinal Inscriptions can be transferred to a new address?
Only if wallets mishandle it, you aren't supposed to subtract the transaction fee from the inscription's 10k sats, but pay it using an additional UTXO. In theory, it'll continue to have the same ...
- 951
1
vote
DDOS attack via BRC-20 & ordinals on Bitcoin
Philosophically, Bitcoin supposedly relies on Nash's game theory to balance usage within capacity. Nash assumes rational players in his games. The BRC20 transaction flood exists outside this. ...
1
vote
DDOS attack via BRC-20 & ordinals on Bitcoin
Do we currently see a DDoS attack on Bitcoin as the mempool is flooded
with low value transactions incl. BRC-20, ordinals etc. (where the
transaction fee exceeds the transferred value)?
No. Mike has ...
- 74
Only top scored, non community-wiki answers of a minimum length are eligible