dec 19, 2023 - File Storage in P2WSH Outputs

Description:

This CIP introduces a method for storing a file alongside a Counterparty issuance or broadcast transaction.

This is achieved by breaking the file into chunks that make up multiple P2WSH outputs that are added after the Counterparty op_return message inside the same Bitcoin transaction.

This idea aims to use less space than the "stamps" (CIP25 and CIP26) method while also encoding the data of the file directly onchain to represent an issuance or broadcast.

JP noted in CIP33, 'With Stamps the Bitcoin transaction is three times larger than the file, and for each byte of the file 26 satoshis are burnt. With CIP33 the tx is just 50% larger than the file, and only 11 sats are burnt per byte. This makes CIP33 more than 50% cheaper than Stamps.'

JP even invited users and devs to test the functionality with an open source XCP op_return Builder for the Electrum wallet.

Author: JP Janssen