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3 sats \ 12 replies \ @0xbitcoiner 10 Nov \ on: Spaces Protocol to go live on Bitcoin Mainnet on block 871222 bitcoin
What's your edge over the competition?
built on bitcoin, very little footprint on the blockchain
cypherpunk (no premine, no separate token, no foundation)
built in a scalable way
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Just how small is the blockchain's footprint, really? Can you break down the technical stuff for me?
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Most transactions are the size of a regular bitcoin transaction, and limited only to top-level spaces. Subspaces are handled off chain with zero knowledge proofs. So we can scale to billions of subspaces/names with little on chain footprint. The only data stored on chain is the top level space name in the transaction to open the auction. Top level spaces are limited to roughly 10 per day.
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yes they can take their ownership on chain if they want, and it is treated as a top level space
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i think so, yes - if they let the onchain subspace utxo expire and are included in the space owner receipt committed onchain afterwards
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subspaces and data related to names can be stored off chain
we have a proof of concept for subspace management here: https://github.com/spacesprotocol/subspacer
you can see how we store data off chain for example with fabric:
https://github.com/spacesprotocol/fabric
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the space owner publishes the zk receipt on chain so all subspace key holders have proof of ownership
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