From: Anthony Towns <aj@erisian•com.au>
To: ZmnSCPxj <ZmnSCPxj@protonmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Congestion Control via OP_CHECKOUTPUTSHASHVERIFY proposal
Date: Thu, 23 May 2019 06:49:11 +1000 [thread overview]
Message-ID: <20190522204911.q4omleepjt5mpxeo@erisian.com.au> (raw)
In-Reply-To: <CljXxJhTEILR7KZxgZ3o_yJm66XeySWzUY3abCm01blY9yX3AmMczvu41CAm9dr4ZQTDCTQqEM1D4MhEaGASuM54l51DaJmZSKv0eqtPjEo=@protonmail.com>
On Wed, May 22, 2019 at 06:04:27AM +0000, ZmnSCPxj via bitcoin-dev wrote:
> * I do not think CoinJoin is much improved by this opcode.
I think (especially with cross-input sig aggregation) it makes it easier
to do a coinjoin during a high fee period -- if you're willing to wait
'til fees are lower to claim your funds you can still do that, despite
participating now.
Otherwise, I don't think it makes coordination that much easier.
If the coinjoin groups stays around in a Layer 2-ish protocol, and
coordinates to cut-through transactions, that could be a scaling and
privacy benefit, but comes with much harder coordination problems. ie:
A,B,C,D do a coinjoin with outputs of 1 BTC each
tx on chain looks like:
in: 1 A
1 B
1 C
1 D
out: 4 to muSig(A,B,C,D) or COHV(1 A, 1 B, 1 C, 1 D)
but then A wants to spend 0.2 BTC to E, and B wants to spend 0.1 BTC to
F, so they agree to update the state and publish:
in: (above, signed by A+B+C+D)
out:
0.1 F
0.2 E
3.7 to muSig(A,B,C,D) or COHV(0.8 A, 0.9 B, 1 C, 1 D)
and they continue the protocol.
> * I cannot support replacing `SIGHASH_NOINPUT` with this opcode.
(I don't think this in any way replaces ANYPREVOUT or similar)
I think lightning is improved by this in that it makes it cheaper to
create lightning channels during a high fee period. If you're creating
1000 channels you can do that via a single output with this opcode, and
then wait until either there's a low fee period to publish the funding
tx cheaply; or until the channel fails and you need to extract the funds
which always has the risk of happening during a high fee period.
You might be able to slightly simplify eltoo (or conceivably some parts of
current lightning); if your eltoo update tx has as it's output [musig(A,B)
or (n+1 cltv checksig) or (d CSV COHV(balances))] then your settlement
transaction only needs to reveal the 40B script, rather than needing a
65B ANYPREVOUT signature.
Cheers,
aj
next prev parent reply other threads:[~2019-05-22 20:49 UTC|newest]
Thread overview: 27+ messages / expand[flat|nested] mbox.gz Atom feed top
2019-05-20 20:58 Jeremy
2019-05-21 19:41 ` Matt Corallo
2019-05-22 1:47 ` Jeremy
2019-05-22 2:51 ` ZmnSCPxj
2019-05-22 5:11 ` Jeremy
2019-05-22 6:04 ` ZmnSCPxj
2019-05-22 8:10 ` Jeremy
2019-05-23 3:45 ` ZmnSCPxj
2019-05-24 21:15 ` Jeremy
2019-05-25 3:56 ` ZmnSCPxj
2019-05-22 20:49 ` Anthony Towns [this message]
2019-05-23 17:42 ` [bitcoin-dev] OP_DIFFICULTY to enable difficulty hedges (bets) without an oracle and 3rd party Tamas Blummer
2019-05-23 19:03 ` Jorge Timón
2019-05-23 19:10 ` Tamas Blummer
2019-05-23 19:05 ` Nathan Cook
2019-05-23 19:18 ` Tamas Blummer
2019-05-23 19:21 ` Nathan Cook
2019-05-23 19:45 ` Tamas Blummer
2019-05-23 19:54 ` Tamas Blummer
2019-05-23 20:07 ` Nathan Cook
2019-05-23 19:45 ` Pieter Wuille
2019-05-23 20:26 ` Tamas Blummer
2019-05-24 8:36 ` Natanael
2019-05-24 16:23 ` Tamas Blummer
2019-05-24 8:15 ` Johnson Lau
2019-05-24 19:12 ` [bitcoin-dev] Congestion Control via OP_CHECKOUTPUTSHASHVERIFY proposal Johnson Lau
2019-05-24 20:36 ` Jeremy
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