Problem
Dear Bitcoin Developers,
I am writing to bring to your attention some concerns about the impact of Ordinals transactions on the Bitcoin network. I understand that Ordinals is a new NFT protocol that takes advantage of Tapscript to bypass the size limit imposed by the OP_RETURN function.
However, as it turns out, Ordinals transactions have some unintended consequences that may affect the performance and security of the Bitcoin network. For example, by passing through the cookie data, Ordinals transactions are cheaper than using the OP_RETURN function, and they may occupy all the space in a block, leaving no room for other types of financial transactions.
These issues raise questions about the scalability, fairness, and security of the Bitcoin network. It is crucial that the Bitcoin network remains accessible, secure, and fair for all users, regardless of their use case.
I kindly request that you consider these concerns and take appropriate action to ensure that the Bitcoin network remains accessible, secure, and fair for all users.
As Satoshi Nakamoto once said, something that could relate about BitDNS
Stacking all the proof-of-work quorum systems in the world into one dataset does not scale. Bitcoin and BitDNS can be used separately. Users shouldn't have to download the entire set of both to use either one.
Solution that could work
To address these issues, Instead of storing these data onchain in the network, We could introduce core features that would allow users to store their data linked directly to bitcoin's blockchain as a second layer. This would significantly reduce the data size impact on the Bitcoin core network, as NFT data would no longer need to be included in every transaction.
I know that we could use distributed storage systems such as Torrents and IPF and reference it directly. But the idea here is to find a suitable way to store it onchain without bothering Bitcoin's true purpose as a monetary layer.
Interesting solutions such as RBG can be an insightful topic, tho.
Conclusion
Bitcoin shouldn't be used to store anything else than monetary transactions and small references.
