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To: Jeremy <jlrubin@mit.edu>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
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From: Matt Corallo <lf-lists@mattcorallo.com>
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Subject: Re: [bitcoin-dev] Congestion Control via OP_CHECKOUTPUTSHASHVERIFY
proposal
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If we're going to do covenants (and I think we should), then I think we
need to have a flexible solution that provides more features than just
this, or we risk adding it only to go through all the effort again when
people ask for a better solution.
Matt
On 5/20/19 8:58 PM, Jeremy via bitcoin-dev wrote:
> Hello bitcoin-devs,
>
> Below is a link to a BIP Draft for a new opcode,
> OP_CHECKOUTPUTSHASHVERIFY. This opcode enables an easy-to-use trustless
> congestion control techniques via a rudimentary, limited form of
> covenant which does not bear the same technical and social risks of
> prior covenant designs.
>
> Congestion control allows Bitcoin users to confirm payments to many
> users in a single transaction without creating the UTXO on-chain until a
> later time. This therefore improves the throughput of confirmed
> payments, at the expense of latency on spendability and increased
> average block space utilization. The BIP covers this use case in detail,
> and a few other use cases lightly.
>
> The BIP draft is here:
> https://github.com/JeremyRubin/bips/blob/op-checkoutputshashverify/bip-coshv.mediawiki
>
> The BIP proposes to deploy the change simultaneously with Taproot as an
> OPSUCCESS, but it could be deployed separately if needed.
>
> An initial reference implementation of the consensus changes and tests
> which demonstrate how to use it for basic congestion control is
> available at
> https://github.com/JeremyRubin/bitcoin/tree/congestion-control. The
> changes are about 74 lines of code on top of sipa's Taproot reference
> implementation.
>
> Best regards,
>
> Jeremy Rubin
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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