Let's look into how spammers use Pay-to-Script-Hash(P2SH) method to spam the #bitcoin network.
In this P2SH method, data chunks are added sequentially to the unlocking script, then "dropped" from the script's memory after they've been verified. It's like writing a long message on a series of puzzle pieces, then scattering the pieces for someone else to find and reassemble.
For example, David wants to store a large document on the blockchain. He breaks the document into small chunks and creates a P2SH transaction where each chunk is "dropped" into the unlocking script in order. When the transaction is spent, the chunks are reassembled to recreate the original document.
There is a new type of scam token introduced by Xitter account MikeInSpace which is called SRC-20 tokens that MIGHT BE USING P2SH transactions to spam the #bitcoin network.
Since they might have started with new tokens, we haven't seen dramatic rise (YET) in P2SH UTXO set but it's something we would like to keep an eye on in the future.
These transactions can be quite large, especially for bigger files. If many users start storing large amounts of data this way, it could significantly increase the size of the blockchain & UTXO set, making it harder for average users to run full nodes.
As you can see in this picture, they are blatantly saying that you can't even prune these transactions by scamming people in the name of immutability and permanence.
In conclusion, while the Bitcoin blockchain offers a temptingly permanent and censorship-resistant platform for monetary transactions only, methods like inscriptions, SRC-20 & BRC-20 tokens create unspendable UTXOs that bloat the UTXO set, while OP_RETURN doesn’t bloat the UTXO set but contribute to overall blockchain bloat. This bloat can make it more expensive to run a Bitcoin node, which could lead to centralization as fewer users can afford to store the full blockchain. It also puts extra strain on the network, potentially slowing down transaction processing and increasing fees for everyone.
If you really want to disincentivize this behavior and reduce inscriptions on #bitcoin blockchain , then I would strongly recommend running Knots instead of original #bitcoin core.
If you are miner then point your hash to OCEAN (npub1qtv…7dze) since they always mine almost spam free block and they are the only mining pool who cares about health of the #bitcoin network.
cc GrassFedBitcoin (npub1wnl…n3wr) giacomozucco (npub1au2…t53j) Luke Dashjr (npub1lh2…a9nk)