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* [Bitcoin-development] Proposal: soft-fork to make anyone-can-spend outputs unspendable for 100 blocks
@ 2013-06-01 19:30 Peter Todd
       [not found] ` <201306012034.31543.luke@dashjr.org>
                   ` (3 more replies)
  0 siblings, 4 replies; 22+ messages in thread
From: Peter Todd @ 2013-06-01 19:30 UTC (permalink / raw)
  To: bitcoin-development

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Currently the most compact way (proof-size) to sacrifice Bitcoins that
does not involve making them unspendable is to create a anyone-can-spend
output as the last txout in the coinbase of a block:

scriptPubKey: <data> OP_TRUE

The proof is then the SHA256 midstate, the txout, and the merkle path to
the block header. However this mechanism needs miner support, and it is
not possible to pay for such a sacrifice securely, or create an
assurance contract to create one.

A anyone-can-spend in a regular txout is another option, but there is no
way to prevent a miner from including a transaction spending that txout
in the same block. Once that happens, there is no way to prove the miner
didn't create both, thus invalidating the sacrifice. The announce-commit
protocol solves that problem, but at the cost of a much larger proof,
especially if multiple parties want to get together to pay the cost of
the sacrifice. (the proof must include the entire tx used to make the
sacrifice)

However if we add a rule where txouts ending in OP_TRUE are unspendable
for 100 blocks, similar to coinbases, we fix these problems. The rule
can be done as a soft-fork with 95% support in the same way the
blockheight rule was implemented. Along with that change
anyone-can-spend outputs should be make IsStandard() so they will be
relayed.

The alternative is sacrifices to unspendable outputs, which is very
undesirable compared to sending the money to miners to further
strengthen the security of the network.

We should always make it easy for people to write code that does what is
best for Bitcoin.

-- 
'peter'[:-1]@petertodd.org
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^ permalink raw reply	[flat|nested] 22+ messages in thread
* Re: [Bitcoin-development] Proposal: soft-fork to make anyone-can-spend outputs unspendable for 100 blocks
@ 2013-06-06 19:14 Luke-Jr
  2013-06-06 19:59 ` Andreas M. Antonopoulos
  0 siblings, 1 reply; 22+ messages in thread
From: Luke-Jr @ 2013-06-06 19:14 UTC (permalink / raw)
  To: bitcoin-development

On Saturday, June 01, 2013 7:30:36 PM Peter Todd wrote:
> scriptPubKey: <data> OP_TRUE
> 
> ...
> Along with that change anyone-can-spend outputs should be make IsStandard()
> so they will be relayed.

Data does not belong in the blockchain. People running nodes have all 
implicitly agreed to store the blocks for financial purposes, and storing data 
is a violation of that social contract. Proof-of-stake may be arguably 
financial, but I'm sure there must be a way to do it without spamming people 
against their consent.

> The alternative is sacrifices to unspendable outputs, which is very
> undesirable compared to sending the money to miners to further
> strengthen the security of the network.

The alternative is to make other standard outputs unable to store data as 
well.

Luke



^ permalink raw reply	[flat|nested] 22+ messages in thread

end of thread, other threads:[~2013-06-06 22:10 UTC | newest]

Thread overview: 22+ messages (download: mbox.gz / follow: Atom feed)
-- links below jump to the message on this page --
2013-06-01 19:30 [Bitcoin-development] Proposal: soft-fork to make anyone-can-spend outputs unspendable for 100 blocks Peter Todd
     [not found] ` <201306012034.31543.luke@dashjr.org>
2013-06-01 20:58   ` Peter Todd
     [not found] ` <38A06794-B6B4-45F3-99C1-24B08434536D@gmail.com>
2013-06-02  6:13   ` Peter Todd
2013-06-02 17:35     ` Jeff Garzik
2013-06-02 18:41       ` Peter Todd
2013-06-04  0:22     ` Mark Friedenbach
2013-06-02 21:45 ` Adam Back
2013-06-04 14:12   ` Jeff Garzik
2013-06-04 14:55     ` John Dillon
2013-06-04 17:42       ` Jeff Garzik
2013-06-04 18:36         ` Roy Badami
2013-06-04 18:49           ` Jeff Garzik
2013-06-04 20:25             ` Peter Todd
2013-06-03 23:43 ` Melvin Carvalho
2013-06-04  2:26   ` Michael Hendricks
2013-06-06 19:14 Luke-Jr
2013-06-06 19:59 ` Andreas M. Antonopoulos
2013-06-06 20:07   ` Luke-Jr
2013-06-06 20:16     ` Andreas M. Antonopoulos
2013-06-06 21:48       ` Luke-Jr
2013-06-06 22:10         ` Melvin Carvalho
2013-06-06 20:25   ` Melvin Carvalho

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