From: bgroff@lavabit•com
To: "Gavin Andresen" <gavinandresen@gmail•com>
Cc: bitcoin-development@lists•sourceforge.net
Subject: Re: [Bitcoin-development] New standard transaction types: time to schedule a blockchain split?
Date: Fri, 26 Aug 2011 21:36:19 -0400 (EDT) [thread overview]
Message-ID: <41177.77.109.139.87.1314408979.squirrel@lavabit.com> (raw)
In-Reply-To: <CABsx9T0vqbFwTJL2gj0N3FWH7KkEN+0FjRWR9_XqbEuxNMM6Aw@mail.gmail.com>
"Gavin Andresen" <gavinandresen@gmail•com> wrote:
> I wanted to talk about it now so there is rough consensus on what to
> put on the road map, and to get as many smart brains looking at the
> proposal and making it as good as possible. Current proposal is at:
> https://gist.github.com/39158239e36f6af69d6f
>
> I have two issues with it:
>
> 1) groffer reports that there's a bug in CHECKMULTISIG (pops too many
> arguments off the stack), so perhaps we should avoid using it at all.
> Fixing the bug would change its behavior, and is not an option because
> that would cause a blockchain split. We absolutely need unit tests and
> better documentation for how CHECKMULTISIG behaves (perhaps it is
> working as intended, and Satoshi just messed up the description of
> what it does in the comment).
>
> 2) How often will the 1-of-3 and 3-of-3 cases be used? I included them
> just for completeness, but perhaps they should be dropped for now so
> there is less code to write and test. I just don't imagine there are
> many cases where you have exactly three parties and 1-of-3 or 3-of-3
> are required to spend.
Here are some additional use cases:
* Long term lock funds, requiring signatures from 2 officers of a company
to disburse (2 of n for n between 3 and 20)
* Short term lock funds, with 2-factor auth to disburse and an additional
2 of n backup in case one of the factors is lost (2-of-2 OR 2-of-n)
* "Escrow" with the the two parties having to agree or one of two backup
observers helping in case of disagreement (2-of-2 OR 2-of-3 OR 2-of-3)
* An options contract where the outcome is triggered by a key being
broadcast: (Ks AND K1) OR (Kr AND K2) - s gets control of funds if K1 is
broadcast, r gets control if K2 is broadcast.
next prev parent reply other threads:[~2011-08-27 1:36 UTC|newest]
Thread overview: 34+ messages / expand[flat|nested] mbox.gz Atom feed top
2011-08-24 15:12 Gavin Andresen
2011-08-24 15:17 ` Rick Wesson
2011-08-24 15:45 ` Gregory Maxwell
2011-08-24 15:55 ` Rick Wesson
2011-08-24 16:05 ` Douglas Huff
2011-08-24 16:15 ` Luke-Jr
2011-08-24 16:46 ` Gregory Maxwell
2011-08-24 17:03 ` Luke-Jr
2011-08-24 17:07 ` Rick Wesson
2011-08-24 17:19 ` Gregory Maxwell
2011-08-24 17:40 ` Rick Wesson
2011-08-24 17:57 ` Gavin Andresen
2011-08-24 18:45 ` Jeff Garzik
2011-08-25 7:39 ` Michael Grønager
2011-08-25 17:18 ` Gavin Andresen
2011-08-26 10:50 ` Mike Hearn
2011-08-27 1:36 ` bgroff [this message]
2011-08-25 18:31 ` Gregory Maxwell
[not found] ` <20110825201026.GA21380@ulyssis.org>
2011-08-25 20:29 ` Gregory Maxwell
2011-08-25 21:06 ` Pieter Wuille
2011-08-24 17:03 ` theymos
2011-08-24 17:47 ` bgroff
2011-08-24 19:05 ` Christian Decker
2011-08-24 20:29 ` Gregory Maxwell
2011-08-24 22:27 ` Douglas Huff
2011-08-25 21:30 ` Christian Decker
2011-08-26 11:42 ` Mike Hearn
2011-08-26 19:44 ` Gavin Andresen
2011-08-27 1:15 ` bgroff
2011-08-24 16:18 Pieter Wuille
2011-08-24 16:26 ` Luke-Jr
2011-08-25 20:14 Pieter Wuille
2011-08-26 11:09 ` Mike Hearn
2011-08-26 21:30 ` Pieter Wuille
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