Delivery-date: Tue, 26 Nov 2024 19:21:10 -0800
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Date: Tue, 26 Nov 2024 19:05:35 -0800 (PST)
From: jeremy <jeremy.l.rubin@gmail.com>
To: Bitcoin Development Mailing List <bitcoindev@googlegroups.com>
Message-Id: <30440182-3d70-48c5-a01d-fad3c1e8048en@googlegroups.com>
Subject: =?UTF-8?Q?=5Bbitcoindev=5D_Un=2DFE=E2=80=99d_Covenants=3A_Char=2Dting_a_new_pa?=
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Esteemed Bitcoin Developers,

Sharing below an approach to implementing Bitcoin covenants without 
requiring native protocol changes. The approach uses covenant emulators 
signing servers.

Unlike approaches to date for covenant emulation, the oracle signers put up 
bonds to BitVM auditors subject to a BITVM style fraud proof, whereby their 
funds can be stolen if the emulator oracle ever signs a transaction in 
violation of the covenant rules.
you can find the paper here: 
https://rubin.io/bitcoin/2024/11/26/unfed-covenants/

Regards,

Jeremy

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<div><span style=3D"caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0);">Esteem=
ed Bitcoin Developers,</span><br /></div><div><p style=3D"caret-color: rgb(=
0, 0, 0); color: rgb(0, 0, 0);">Sharing below an approach to implementing B=
itcoin covenants without requiring native protocol changes. The approach us=
es covenant emulators signing servers.</p><p style=3D"caret-color: rgb(0, 0=
, 0); color: rgb(0, 0, 0);">Unlike approaches to date for covenant emulatio=
n, the oracle signers put up bonds to BitVM auditors subject to a BITVM sty=
le fraud proof, whereby their funds can be stolen if the emulator oracle ev=
er signs a transaction in violation of the covenant rules.</p></div>you can=
 find the paper here: https://rubin.io/bitcoin/2024/11/26/unfed-covenants/<=
br /><div><br /></div><div>Regards,</div><div><br /></div><div>Jeremy</div>

<p></p>

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