Latest news with #LukeDashjr
Yahoo
30-04-2025
- Yahoo
Bitcoin Debate on Looser Data Limits Brings to Mind the Divisive Ordinals Controversy
Bitcoin developers are again at odds over how the world's oldest and largest blockchain should handle storing information on-chain, with a proposal to relax long-standing limits on the size of data held sparking fierce debate reminiscent of 2023's battles over Ordinals. The blockchain's OP_RETURN feature allows people attach a small piece of extra data to a transaction It is often used for things like notes, timestamps or digital records. The proposed change, put forward by developer Peter Todd, would remove the 80-byte cap on such data, a limit originally designed to discourage spam and preserve the blockchain's financial integrity. Supporters argue the current limit is pointless because users are already bypassing it by using Taproot transactions, to hide data inside parts of the transaction meant for cryptographic signatures. This is how Ordinals and Inscriptions work (and why they have their critics): They embed images or text into Taproot transactions that are often unspendable, turning the Bitcoin blockchain into a kind of data storage system. Bitcoin Core developer Luke Dashjr, a vocal critic of Ordinals, which he has long labeled a 'spam attack' on the blockchain, called the proposal 'utter insanity' and warned that loosening data restrictions would accelerate what he sees as the degradation of Bitcoin's financial-first purpose. 'It should be needless to say, but this idea is utter insanity,' Dashjr posted. 'The bugs should be fixed, not the abuse embraced.' Critics of the proposal also have another concern. The change could normalize illegal content storage, degrade the chain's fungibility, and turn node operators into unwitting hosts of malware and copyright violations. To demonstrate the potential maelstrom this may bring, one Ordinals team inscribed a whole Nintendo 64 emulator onto the blockchain, which may get the attention of Nintendo, a company known for being protective of its intellectual property. Supporters of the change, including Pieter Wuille and Sjors Provoost, argued that relaxing OP_RETURN limits may actually reduce what's known as UTXO (unspent transaction output) bloat, a phenomenon that slows down the blockchain when the network gets cluttered with non-financial transactions, and mempool fragmentation. UTXO bloat is a documented side effect of Ordinals and Inscriptions using Taproot transactions. For example, in May 2023, at the height of Ordinals' popularity, the Bitcoin blockchain became so congested Binance had to suspend bitcoin (BTC) withdrawals for a number of hours. 'The demand exists,' Wuille wrote. 'And pushing it outside the public relay network only causes greater harm.' For now, the proposal remains under review. One thing is for certain: The intensity of debate on GitHub and blockchain developer mailing lists shows the battle for Bitcoin's identity is far from in to access your portfolio
Yahoo
22-04-2025
- Business
- Yahoo
Investors flee to Bitcoin and gold as Trump's tariffs shake markets
Gold has surged in recent months as investors seek safety amid ongoing geopolitical tensions, ie, Trump Tariffs. Reuters reported, 'The latest flare-up of tensions between the world's two largest economies dented sentiment in wider financial markets, sending investors towards safe-haven assets such as gold.' Over the past six months, gold has risen by roughly 19.33%, or $512 per ounce. Bitcoin, often compared to gold for its scarcity and store-of-value potential, has seen even more dramatic price movement. Rising from $67,000 to a high of $109,000 before settling in the mid-$80,000s. While gold's value is rooted in centuries of trust, Bitcoin offers a fixed supply and rapidly increasing regulatory clarity, which could attract a growing wave of institutional and retail investors. Bitcoin and AI infrastructure firm Auradine has raised $153 million in a funding round that exceeded its target in a series C round, bringing their total funding to over $300 million. StepStone Group led the round, joined by investors including Qualcomm Ventures, Samsung Catalyst Fund, Premji Invest, and MARA Holdings. The company also launched AuraLinks AI, a new division that will build networking tools to help AI data centers handle more traffic and stay cool as they grow. CEO Rajiv Khemani said the funding will help Auradine grow faster and build tech that supports both AI and blockchain in a more energy-efficient way. Tether is partnering with OCEAN, a decentralized Bitcoin mining pool led by Bitcoin Core developer Luke Dashjr, to deploy both its current and future hashrate. The move is aimed at advancing Bitcoin's decentralization by leveraging OCEAN's open-source DATUM protocol, which enables miners to build their own block templates and operate in low-bandwidth environments. 'We see supporting decentralization in Bitcoin mining as essential to the network's long-term integrity,' said Paolo Ardoino, CEO of Tether. The partnership aims to help Tether earn mining rewards directly, potentially cut costs, and grow into regions with limited access to mining tools. Bitcoin Core version 29.0 was released on April 14, 2025, bringing bug fixes and improvements. With this update, support for versions 26.x and earlier has ended, meaning they will no longer receive updates. In line with the project's security policy, any major security issues found in those older versions will be publicly disclosed two weeks after the release. Bitcoin Core is the main software that powers the Bitcoin network. It verifies all transactions, includes a built-in wallet, and is based on the original code from Bitcoin creator Satoshi Nakamoto. The project is open source, with contributors from around the world. Final decisions on code changes are made by trusted developers known as maintainers. Development is done openly on GitHub. CleanSpark has expanded its capital strategy with a $200 million Bitcoin-backed credit facility from Coinbase Prime. The funding allows the company to support growth without issuing new shares, as it transitions to a self-funded operating model. As part of the shift, CleanSpark will begin selling a portion of its monthly Bitcoin production to cover expenses. The company holds more than 12,000 BTC, valued at roughly $1 billion. 'While we remain committed to Bitcoin as a long-term, hardened asset, we believe a more effective way to increase shareholder value is through a balanced approach between monetizing new production and building long-term holdings,' said CEO Zach Bradford. The move sets CleanSpark apart from competitors who continue to rely on equity dilution or high leverage to fund operations. Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the views of TheStreet Crypto. This piece is for informational purposes only and should not be considered financial or investment advice. Sign in to access your portfolio
