"The notion of including data unrelated to Bitcoin transactions is hardly new and, indeed, the very first block on the blockchain includes a reference to a newspaper headline about bank bailouts. Now, though, Bitcoin's biggest and most influential group of coders, known as Core, are planning to tweak their software in order to significantly lift the restrictions on how much non-payment information can be included in a block."
"For the Core crowd, this is a simple and pragmatic way to promote new uses for Bitcoin and, in the process, drum up extra fees for miners at a time when the blockchain's lottery payment is 3.125 Bitcoins, and set to halve again in 2028. A fast-growing rival faction, though, wants nothing to do with the scheme and is promoting a Bitcoin client software of its own called Knots."
"That faction's software is led by an influential Bitcoin developer, who is a devout Catholic and reportedly named it Knots after the "whip of knots" Jesus used to drive money changers from a temple. According to a lawyer I spoke with on the Knots side, the software is necessary to protect the blockchain from what he decried as spammers and "scam adjacency" projects that promote things like Bitcoin NFTs."
Lugano, Switzerland is a mountain town with Italian character under Swiss administration. Plan B, a Bitcoin conference, gathered proponents of nation-states embracing Bitcoin and produced an upbeat, Bitcoin-centric atmosphere. A growing schism emerged over proposals to modify Bitcoin's codebase to allow more non-payment, non-financial data in blocks. Core, the largest group of Bitcoin developers, plans software changes to lift restrictions on non-payment data to promote new uses and generate higher transaction fees as block rewards shrink. A rival faction promotes an alternative client called Knots to resist these changes and to protect the blockchain from spammers and "scam adjacency" projects such as Bitcoin NFTs. The dispute highlights tensions between pragmatic monetization for miners and purist concerns about network spam and non-financial use cases.
Read at Fortune Crypto
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