OP_RETURN is a special operator in Bitcoin scripts that allows small amounts of data to be stored directly in the blockchain. Introduced in 2014, it is designed to store metadata without affecting the primary function of transactions — the transfer of bitcoins. OP_RETURN marks the transaction output as 'unspendable', meaning the funds associated with it are lost, but it allows embedding up to 80 bytes of data into the blockchain.
This mechanism is used for various purposes: from notarizing documents (for example, file hashes to confirm their authenticity) to creating decentralized applications, such as tokens or digital contracts. For instance, projects like Counterparty or Omni Layer use OP_RETURN to store information about tokens without overloading the network.
The advantages of OP_RETURN include the immutability of data in the blockchain and their availability to all nodes in the network. However, there are limitations: the size of data (80 bytes) and additional costs for the transaction fee. The use of OP_RETURN contributes to expanding Bitcoin's functionality while maintaining its security and decentralization.
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