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| author | Anthony Towns <aj@erisian.com.au> | 2021-07-05 15:04:21 +1000 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2021-07-05 05:32:43 +0000 |
| commit | 7da13b2bb7369822c120796fa79a96fc78191d62 (patch) | |
| tree | c3c13ae08ac16e43405c722d5e5483b0e7322228 | |
| parent | add4b5c7c1f90cb9aa3ab076fc407f934876c961 (diff) | |
| download | pi-bitcoindev-7da13b2bb7369822c120796fa79a96fc78191d62.tar.gz pi-bitcoindev-7da13b2bb7369822c120796fa79a96fc78191d62.zip | |
Re: [bitcoin-dev] Unlimited covenants, was Re: CHECKSIGFROMSTACK/{Verify} BIP for Bitcoin
| -rw-r--r-- | f1/245c43b2fa65a334360975743cbdaf1fb421cb | 101 |
1 files changed, 101 insertions, 0 deletions
diff --git a/f1/245c43b2fa65a334360975743cbdaf1fb421cb b/f1/245c43b2fa65a334360975743cbdaf1fb421cb new file mode 100644 index 000000000..27e62ecb7 --- /dev/null +++ b/f1/245c43b2fa65a334360975743cbdaf1fb421cb @@ -0,0 +1,101 @@ +Return-Path: <aj@erisian.com.au> +Received: from smtp2.osuosl.org (smtp2.osuosl.org [IPv6:2605:bc80:3010::133]) + by lists.linuxfoundation.org (Postfix) with ESMTP id 5BA88C000E + for <bitcoin-dev@lists.linuxfoundation.org>; + Mon, 5 Jul 2021 05:32:43 +0000 (UTC) +Received: from localhost (localhost [127.0.0.1]) + by smtp2.osuosl.org (Postfix) with ESMTP id 279E340168 + for <bitcoin-dev@lists.linuxfoundation.org>; + Mon, 5 Jul 2021 05:32:43 +0000 (UTC) +X-Virus-Scanned: amavisd-new at osuosl.org +X-Spam-Flag: NO +X-Spam-Score: -1.899 +X-Spam-Level: +X-Spam-Status: No, score=-1.899 tagged_above=-999 required=5 + tests=[BAYES_00=-1.9, UNPARSEABLE_RELAY=0.001] + autolearn=ham autolearn_force=no +Received: from smtp2.osuosl.org ([127.0.0.1]) + by localhost (smtp2.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) + with ESMTP id kzmZ18gInCw3 + for <bitcoin-dev@lists.linuxfoundation.org>; + Mon, 5 Jul 2021 05:32:42 +0000 (UTC) +X-Greylist: delayed 00:28:08 by SQLgrey-1.8.0 +Received: from azure.erisian.com.au (cerulean.erisian.com.au [139.162.42.226]) + by smtp2.osuosl.org (Postfix) with ESMTPS id 2FD37400B5 + for <bitcoin-dev@lists.linuxfoundation.org>; + Mon, 5 Jul 2021 05:32:42 +0000 (UTC) +Received: from aj@azure.erisian.com.au (helo=sapphire.erisian.com.au) + by azure.erisian.com.au with esmtpsa (Exim 4.92 #3 (Debian)) + id 1m0GmQ-0000of-IX; Mon, 05 Jul 2021 15:04:29 +1000 +Received: by sapphire.erisian.com.au (sSMTP sendmail emulation); + Mon, 05 Jul 2021 15:04:21 +1000 +Date: Mon, 5 Jul 2021 15:04:21 +1000 +From: Anthony Towns <aj@erisian.com.au> +To: Russell O'Connor <roconnor@blockstream.com>, + Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org> +Message-ID: <20210705050421.GA31145@erisian.com.au> +References: <CAD5xwhjmu-Eee47Ho5eA6E6+aAdnchLU0OVZo=RTHaXnN17x8A@mail.gmail.com> + <20210704011341.ddbiruuomqovrjn6@ganymede> + <CAD5xwhimPBEV_tLpSPxs9B+XGUhvPx_dnhok=8=hyksyi4=B6g@mail.gmail.com> + <20210704203230.37hlpdyzr4aijiet@ganymede> + <5keA_aPvmCO5yBh_mBQ6Z5SwnnvEW0T-3vahesaDh57f-qv4FbG1SFAzDvT3rFhre6kFl282VsxV_pynwn_CdvF7fzH2q9NW1ZQHPH1pmdo=@protonmail.com> + <CAMZUoKnVLRLgL1rcq8DYHRjM--8VEUC5kjUbzbY5S860QSbk5w@mail.gmail.com> +MIME-Version: 1.0 +Content-Type: text/plain; charset=us-ascii +Content-Disposition: inline +In-Reply-To: <CAMZUoKnVLRLgL1rcq8DYHRjM--8VEUC5kjUbzbY5S860QSbk5w@mail.gmail.com> +User-Agent: Mutt/1.10.1 (2018-07-13) +X-Spam-Score-int: -18 +X-Spam-Bar: - +Subject: Re: [bitcoin-dev] Unlimited covenants, + was Re: CHECKSIGFROMSTACK/{Verify} BIP for Bitcoin +X-BeenThere: bitcoin-dev@lists.linuxfoundation.org +X-Mailman-Version: 2.1.15 +Precedence: list +List-Id: Bitcoin Protocol Discussion <bitcoin-dev.lists.linuxfoundation.org> +List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe> +List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/> +List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org> +List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help> +List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe> +X-List-Received-Date: Mon, 05 Jul 2021 05:32:43 -0000 + +On Sun, Jul 04, 2021 at 09:02:25PM -0400, Russell O'Connor via bitcoin-dev wrote: +> Bear in mind that when people are talking about enabling covenants, we are +> talking about whether OP_CAT should be allowed or not. + +In some sense multisig *alone* enables recursive covenants: a government +that wants to enforce KYC can require that funds be deposited into +a multisig of "2 <recipient> <gov_key> 2 CHECKMULTISIG", and that +"recipient" has gone through KYC. Once deposited to such an address, +the gov can refus to sign with gov_key unless the funds are being spent +to a new address that follows the same rules. + +(That's also more efficient than an explicit covenant since it's all +off-chain -- recipient/gov_key can jointly sign via taproot/MuSig at +that point, so that full nodes are only validating a single pubkey and +signature per spend, rather than having to do analysis of whatever the +underlying covenant is supposed to be [0]) + +This is essentially what Liquid already does -- it locks bitcoins into +a multisig and enforces an "off-chain" covenant that those bitcoins can +only be redeemed after some valid set of signatures are entered into +the Liquid blockchain. Likewise for the various BTC-on-Ethereum tokens. +To some extent, likewise for coins held in exchanges/custodial wallets +where funds can be transferred between customers off-chain. + +You can "escape" from that recursive covenant by having the government +(or Liquid functionaries, or exchange admins) change their signing +policy of course; but you could equally escape any consensus-enforced +covenant by having a hard fork to stop doing consensus-enforcement (cf +ETH Classic?). To me, that looks more like a difference of procedure +and difficulty, rather than a fundamental difference in kind. + +Cheers, +aj + +[0] https://twitter.com/pwuille/status/1411533549224693762 + + |