Subject: Re: [bitcoin-dev] Draft-BIP: Ordinal Numbers

From: Billy Tetrud <[email-masked]>
Date: Fri, 25 Feb 2022 09:56:24 -0600

> El Gamal commitments, for example, are perfectly binding but only
computationally hiding.

That's very interesting. I stand corrected in that respect. Thanks for the
information Adam!

On Fri, Feb 25, 2022, 05:17 AdamISZ <[email-masked]> wrote:

> > I really don't see a world where bitcoin goes that route. Hiding coin
> amounts would make it impossible to audit the blockchain and verify that
> there hasn't been inflation and the emission schedule is on schedule. It
> would inherently remove unconditional soundness from bitcoin and replace it
> with computational soundness. Even if bitcoin did adopt it, it would keep
> backwards compatibility with old style addresses which could continue to
> use ordinals.
>
> Nit: it isn't technically correct to say that amount hiding "inherently
> removes unconditional soundness". Such commitments can be either perfectly
> hiding or perfectly binding; it isn't even logically possible for them to
> be both, sadly. But we are not forced to choose perfect binding; El Gamal
> commitments, for example, are perfectly binding but only computationally
> hiding.
>