Re: Introducing the Bitcoin Ordinals DID Method

Thanks Manu,

Here are the tradeoffs I am aware of for the Bitcoin Ordinals DID Method. I
will add an issue to get these included in the spec when I get a chance.

1. Cost will rise as Bitcoin transaction fees rise
2. Speed of updating a DID relies on inclusion into a block. Simple Payment
Verification (SPV) may have been a solution to this issue however since
Replace By Fee (RBF) was added to the network I believe it is no longer
feasible.

Can anyone help me come up with more?

Brian


On Tue, May 2, 2023 at 6:58 AM Manu Sporny <msporny@digitalbazaar.com>
wrote:

> On Mon, May 1, 2023 at 6:16 PM Brian Richter <brian@aviary.tech> wrote:
> > Yes, we agree Bitcoin as it is currently architected will never support
> billions of users on layer 1 however the bet I'm making is that there will
> be users willing to pay a premium to get their keys and services endpoints
> embedded on layer 1.
>
> To pile on to the thread, diversity in the DID Method ecosystem is a
> goal. All DID Methods make trade-offs, and as long as the DID Method
> is up-front about the tradeoffs it is making, then that's what
> matters, IMHO.
>
> While I can't comment on the technical mechanism used in depth, it
> sounds like a perfectly reasonable way to approach the problem if you
> want to use Bitcoin and don't want to depend on a Layer 2 network.
>
> -- manu
>
> --
> Manu Sporny - https://www.linkedin.com/in/manusporny/
> Founder/CEO - Digital Bazaar, Inc.
> https://www.digitalbazaar.com/
>