From: Peter Todd <pete@petertodd•org>
To: James MacWhyte <macwhyte@gmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Cc: Tony Churyumoff <tony991@gmail•com>
Subject: Re: [bitcoin-dev] Hiding entire content of on-chain transactions
Date: Mon, 8 Aug 2016 14:53:54 -0700 [thread overview]
Message-ID: <20160808215354.GA1373@fedora-21-dvm> (raw)
In-Reply-To: <CAH+Axy6yJ3WotKjsMjo3o23V5Du1nniu8Bzd3gxYX5OuqeB6gw@mail.gmail.com>
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On Mon, Aug 08, 2016 at 09:41:27PM +0000, James MacWhyte via bitcoin-dev wrote:
> Wouldn't you lose the ability to assume transactions in the blockchain are
> verified as valid, since miners can't see the details of what is being
> spent and how? I feel like this ability is bitcoin's greatest asset, and by
> removing it you're creating an altcoin different enough to not be connected
> to/supported by the main bitcoin project.
The fact that miners verify transactions is just an optimisation:
https://petertodd.org/2013/disentangling-crypto-coin-mining
Preventing double-spending however is a fundemental requirement of Bitcoin, and
this proposal does prevent double-spending perfectly well (although there may
be better ways to do it).
The OP's proposal sounds quite similar to my earlier one along similar lines:
https://petertodd.org/2016/closed-seal-sets-and-truth-lists-for-privacy
--
https://petertodd.org 'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2016-08-08 21:54 UTC|newest]
Thread overview: 15+ messages / expand[flat|nested] mbox.gz Atom feed top
2016-08-08 15:30 Tony Churyumoff
2016-08-08 15:47 ` Henning Kopp
2016-08-08 16:03 ` Tony Churyumoff
2016-08-08 21:41 ` James MacWhyte
2016-08-08 21:53 ` Peter Todd [this message]
[not found] ` <CAL3p6zpvv7ph9CJQF6E1VVdwCKKFLNe2EVh=JE=R0Gpt4y=1Tw@mail.gmail.com>
2016-08-10 7:50 ` [bitcoin-dev] Fwd: " Tony Churyumoff
2016-08-08 23:42 ` [bitcoin-dev] " Tony Churyumoff
2016-08-09 0:03 ` James MacWhyte
[not found] ` <CAL3p6zr76k1F07dtvxQ8hiOiK_ZvVFBmW=ESYem60udUQmM+Cw@mail.gmail.com>
2016-08-10 7:51 ` [bitcoin-dev] Fwd: " Tony Churyumoff
2016-08-09 0:18 ` [bitcoin-dev] " James MacWhyte
[not found] ` <CAL3p6zqdKgkFWSDZYqVERvX2iGyS3qaLZae-kDp3Y-s1rmB2Zg@mail.gmail.com>
2016-08-10 4:31 ` James MacWhyte
2016-08-10 8:37 ` Tony Churyumoff
2016-08-10 7:53 ` [bitcoin-dev] Fwd: " Tony Churyumoff
2016-08-09 7:26 ` [bitcoin-dev] " Henning Kopp
[not found] ` <CAL3p6zqj7bc=qrayBBK=O6p2b2PBNO3n5EMFf_1dR1oMq581hg@mail.gmail.com>
2016-08-10 7:52 ` [bitcoin-dev] Fwd: " Tony Churyumoff
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