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Yes. It lives as a transaction output under op code 'OP_RETURN'. See example of weather data stored on chain https://whatsonchain.com/tx/6dac238576e9778458bb62
by onion-soup 7y ago
Yes. It lives as a transaction output under op code 'OP_RETURN'.
See example of weather data stored on chain https://whatsonchain.com/tx/6dac238576e9778458bb62a2f7d936fde1f258a31bbeb2c20084232589d8d915 https://whatsonchain.com/tx/6dac238576e9778458bb62a2f7d936fd...
>are there fees to host this data (as we need to pay miners to include data in a block)?
Yes, current fees are about 1 sat/byte.
This is really a write once, read many type of system.
- looeee 7y ago> 1 sat/byte What's a sat?
- solotronics 7y ago1 satoshi = smallest current unit of a bitcoin = 0.00000001฿
- onion-soup 7y ago1 satoshi per byte. 1 satoshi = 0.00000001 BSV
- Roujo 7y agoPresumably a Satoshi, the nickname given to the current smallest fraction of a bitcoin that is recorded on the block chain - 0.00000001 BTC. https://en.bitcoin.it/wiki/Satoshi_(unit) https://en.bitcoin.it/wiki/Satoshi_(unit)
- PowerfulWizard 7y agoSo it will be roughly $115 USD per megabyte? (1% of a BTC). High, but at least you get a 10000x replication factor.
- onion-soup 7y agoNo, it will be around 20 cents to store 1MB
- ghostpepper 7y agoI can see use cases where this would be worthwhile. Not so much for backing up your photo collection, but more along the lines of publishing some textual information that someone powerful does not want published. It could even potentially function as a sort of notary service.