From: Peter Todd <pete@petertodd•org>
To: Ruben Somsen <rsomsen@gmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] How to do Proof of Micro-Burn?
Date: Tue, 19 Jul 2022 19:13:41 -0400 [thread overview]
Message-ID: <Ytc6paVsuqtyP5EJ@petertodd.org> (raw)
In-Reply-To: <CAPv7Tja_E5e=3J_XSxchFoFbz0jiXqn5b4FnjBYb8d44QKAB+g@mail.gmail.com>
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On Wed, Jul 20, 2022 at 12:23:40AM +0200, Ruben Somsen via bitcoin-dev wrote:
> The goal is to burn multiple amounts (10, 20, 30, 40) in a single OP_RETURN
> (100) and specifically indicating how much of the total is intended for
> what use case. A merkle sum tree achieves this.
>
> (1a) 100 (1b) ABCD (2a) 100 (2b) ABCD
> / \ / \ / \ / \
> 30 70 AB CD 30 70 AB CD
> / \ / \ / \ / \ / \ / \
> 10 20 30 40 A B C D 10 20 A B
From a practical point of view, note that the merkle-sum-tree is only useful in
cases where you're burning significantly less than a transaction fee. For the
forseeable future, that's <~$50, probably less.
Trusting a well-known third-party with $50 really isn't a big problem. So I
think adding more clever cryptography to avoid trusting the third party to
complete the burn isn't really necessary.
--
https://petertodd.org 'peter'[:-1]@petertodd.org
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prev parent reply other threads:[~2022-07-19 23:13 UTC|newest]
Thread overview: 7+ messages / expand[flat|nested] mbox.gz Atom feed top
2022-07-17 13:28 Велеслав
2022-07-17 20:40 ` Ruben Somsen
2022-07-17 22:34 ` ZmnSCPxj
2022-07-18 22:32 ` Ruben Somsen
2022-07-19 14:48 ` ZmnSCPxj
2022-07-19 22:23 ` Ruben Somsen
2022-07-19 23:13 ` Peter Todd [this message]
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