From our offices in Kuala Lumpur, Neuroware is a team of technologists that helps organisations and individuals explore, adopt, and implement distributed ledger technology. Graduates from Batch 9 of the infamous 500 Startups accelerator, we also develop tools, training, and protocols for businesses that want to benefit from the blockchains. If you’re working on a project for the autonomous web of tomorrow, or just want to talk tech with us, please get in touch below.
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The standardized method for inserting arbitrary data upon the majority of blockchains is through the use of OP_Returns, which are currently limited to a single OP_Return per transaction. This is somewhat strange, as a transaction without OP_Returns can have as many inputs and outputs as you like, so long as you pay for the KB space used by the script to relay that transaction to the network. It is the fact that a transaction cannot include multiple OP_Returns that increases the blockchain bloat, not the data itself.
Blockchains are flipping the script on the financial world, and yet we’re still just scratching the surface of their true technological potential. If it were a student it’s report card would surely read “gifted, but must try harder”. What we have - for the first time in history - is a distributed data store without central authority or a single point of failure; constantly working to reach consensus to continually agree upon a common, permanent, record of immutable open data.
The foundations for any distributed application require distributed protocols, and in today's decentralised world there’s arguably nothing better to build upon than blockchains. Since their inception there have been a number of additional protocol layers built upon and around the blockchains that are designed to extend their use beyond the transactional boundaries of exchanging cryptocurrencies. However, due to the complexity of linking multiple transactions together in a sensible way, few protocols have been capable of storing large amounts of structured data directly on a blockchain.