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From: "Swambo, Jacob" <jacob.swambo@kcl.ac.uk>
To: "bitcoin-dev@lists.linuxfoundation.org"
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Thread-Topic: ANYPREVOUT in place of CTV
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Subject: Re: [bitcoin-dev] ANYPREVOUT in place of CTV
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Hi,

While I agree with the arguments in favour of (optional ANYONECANPAY) APOAS=
 in lieu of CTV in the short-term (given the additional benefit of enabling=
 Eltoo), there's a point to add in favour of CTV (or similar) in the long-t=
erm beyond as an optimisation.

With APOAS-based covenants, the signature message algorithm is tied to both=
 the covenant commitment and transaction validation. Coupling these things =
introduces a trade-off between safety and flexibility with covenant-based a=
pplications. E.g. the maximally safe and restricted covenant commits to all=
 inputs and outputs of the transaction (using SIGHASH ALL). However, a less=
 restricted covenant commits to, for example, a single input and a single o=
utput (using ANYONECANPAY|SINGLE) but opens itself up to attacks making use=
 of transaction malleability and signature replay. If instead we separate t=
he covenant commitment from the signatures to validate transactions (as wit=
h CTV and TXHASH + CHECKSIGFROMSTACK) then we by-pass this trade-off. The f=
lexibility of additional templates with new CTV versions or with the TXHASH=
 primitive seems to me to enable significantly more utility for covenant-ba=
sed applications.

Best regards,

Jacob Swambo

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<meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dus-ascii"=
>
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<body>
Hi,
<div dir=3D"auto"><br>
</div>
<div dir=3D"auto">While I agree with the arguments in favour of (optional A=
NYONECANPAY) APOAS in lieu of CTV in the short-term (given the additional b=
enefit of enabling Eltoo), there's a point to add in favour of CTV (or simi=
lar) in the long-term beyond as an
 optimisation.&nbsp;</div>
<div dir=3D"auto"><br>
</div>
<div dir=3D"auto">With APOAS-based covenants, the signature message algorit=
hm is tied to both the covenant commitment and transaction validation. Coup=
ling these things introduces a trade-off between safety and flexibility wit=
h covenant-based applications. E.g.
 the maximally safe and restricted covenant commits to all inputs and outpu=
ts of the transaction (using SIGHASH ALL). However, a less restricted coven=
ant commits to, for example, a single input and a single output (using ANYO=
NECANPAY|SINGLE) but opens itself
 up to attacks making use of transaction malleability and signature replay.=
 If instead we separate the covenant commitment from the signatures to vali=
date transactions (as with CTV and TXHASH + CHECKSIGFROMSTACK) then we by-p=
ass this trade-off. The flexibility
 of additional templates with new CTV versions or with the TXHASH primitive=
 seems to me to enable significantly more utility for covenant-based applic=
ations.</div>
<div dir=3D"auto"><br>
</div>
<div dir=3D"auto">Best regards,</div>
<div dir=3D"auto"><br>
</div>
<div dir=3D"auto">Jacob Swambo</div>
</body>
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