From: Peter Todd <pete@petertodd•org>
To: Gavin <gavinandresen@gmail•com>
Subject: Re: [Bitcoin-development] Proposal: soft-fork to make anyone-can-spend outputs unspendable for 100 blocks
Date: Sun, 2 Jun 2013 02:13:27 -0400 [thread overview]
Message-ID: <20130602061327.GA14148@savin> (raw)
In-Reply-To: <38A06794-B6B4-45F3-99C1-24B08434536D@gmail.com>
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On Sat, Jun 01, 2013 at 10:32:07PM -0400, Gavin wrote:
> Feels like a new opcode might be better.
>
> Eg <data> 100 OP_NOP1
>
> ... Where op_nop1 is redefined to be 'verify depth' ...
Good idea.
Either way, looks like complex announce-commit logic isn't needed and a
simple txout with one of a few possible forms will work.
I'd say we tell people to sacrifice to (provably) unspendable for now
and do a soft-fork later if there is real demand for this stuff in the
future.
> On Jun 1, 2013, at 3:30 PM, Peter Todd <pete@petertodd•org> wrote:
>
> > 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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next prev parent reply other threads:[~2013-06-02 17:15 UTC|newest]
Thread overview: 22+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-06-01 19:30 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 [this message]
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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